According to an analyst, the number of Bitcoin wallets holding less than 1 BTC (referred to as 'Shrimp') is expected to increase by about 9% in the near future. Although the price of Bitcoin has surpassed 100,000 USD, retail investors continue to accumulate, demonstrating strong confidence in the potential of this digital asset.
Axel Adler, a contributor at CryptoQuant, shares:
"Although referred to as 'small shrimp', this group of holders still demonstrates strong confidence in the potential of Bitcoin, continuously accumulating even when the price has reached the current high."
According to Adler's data, there are currently about 323,000 'Shrimp' wallets holding less than 1 BTC. He predicts this number will increase by 8.67%, reaching 351,000 addresses in the near future:
"The current trend shows that the number of small wallets continues to increase, despite Bitcoin having surpassed record high prices."
Adler explains that the increase in the number of these wallets began when the Bitcoin price reached 61,000 USD. Since then, the number of 'Shrimp' wallets has increased by 21.9%, demonstrating strong interest from retail investors in Bitcoin.
Long-term holders are selling, is there a risk of significant adjustment?
While 'Shrimp' addresses continue to increase, long-term investors – those holding Bitcoin for at least 155 days – have begun selling. On December 9, long-term investors sold a total of 827,783 BTC over 30 days, putting pressure on the market.
Some analysts believe that this selling could be a sign of a potential price peak, leading to a significant adjustment risk if buying demand weakens. However, experts also note that the short-term price drop of Bitcoin will not be too deep, as selling pressure has decreased significantly.
"With a significant drop in actual profits and selling pressure, future price corrections are expected to be less volatile than last week," Bitfinex notes.
At the current moment, Bitcoin is trading around 101,685 USD. Although the market still carries the risk of adjustment, the continuous increase of 'Shrimp' wallets shows long-term confidence from retail investors, creating a solid foundation for Bitcoin in the future.
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