Santiment Flags Possible Bitcoin Bottom as Wallet Count Falls
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Santiment says declining participation among smaller bitcoin holders could signal a local bottom, with $80,000 and $82,500 identified as key price levels.
Bitcoin could be nearing a local price bottom as smaller holders pull back, according to Santiment analysis reported by Bitcoin.com News. The report highlighted a decline of about 30,000 wallets.
Santiment interpreted the drop in wallet participation as a potential sign that selling pressure from smaller holders may be easing. That could help create conditions for a recovery, though a bottom remains unconfirmed.
The analysis identified $80,000 as an important support level and a return above $82,500 as central to the recovery scenario. Both levels remain key to assessing whether the potential bottom takes shape.
Source: Bitcoin.com News
