Crypto analyst Axel Adler noted that small-scale investors have shown strong belief that the Bitcoin price will continue to rise. Wallets holding Bitcoin under 1 BTC, or “shrimp” wallets, are expected to increase by approximately 9% in the coming period.
Adler noted in a December 14 analysis that this group of investors continued to accumulate coins even though the Bitcoin price had risen above the $100,000 level:
“These investors remain confident in Bitcoin’s future growth and continue to accumulate coins even at current price levels.”
According to Adler, there are currently around 323,000 addresses holding less than 1 BTC. This number is expected to increase by 8.67% in the short term, reaching 351,000. The analysis noted that this increase started when Bitcoin was at $61,000, and since then the number of "shrimp" wallets has increased by 21.9%.
In contrast, long-term investors (wallets that have held Bitcoin for at least 155 days) sold a total of 827,783 BTC in the last 30 days. Analysts note that these sales could create a downtrend in the market, but the recent decrease in selling pressure will make price fluctuations more limited.
According to Bitfinex analysts, due to this decrease in selling pressure, price declines as severe as the 10% drop in early December are not expected in the near future.