Number of bitcoin wallets holding more than 1,000 BTC hits three-year low

The variety of Bitcoin addresses holding a minimum of 1,000 BTC– worth almost $17 million since press time– reached a three-year low of 2,063 addresses.

According to information offered by blockchain analytics service, Glassnode on Dec. 3, Bitcoin (BTC) whales are getting cold feet over the present market conditions.

Historic information reveals that a sharp decrease in the variety of Bitcoin addresses holding a minimum of 1,000 BTC was frequently– however not constantly– followed by a sharp decrease in Bitcoin’s rate.

Glassnode information likewise recommends that on Dec. 3, the seven-day average of Bitcoin’s mean deal volume reached a two-year low of $25.438. The previous two-year low of $25.450 was signed up the day previously, Dec. 2, 2022.

The findings follow current declarations by crypto market experts recommending that the leading cryptocurrency is headed lower, in spite of “individuals turning bullish without factor.”