Popular on-chain data aggregator Santiment has noticed a large decline in the overall number of cryptocurrency wallets that hold at least one whole Bitcoin.
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Aggressive Bitcoin holder dump registered
Santiment analysts stated that this important metric has been showing an aggressive decline since traders seem to believe that the leading global cryptocurrency, Bitcoin, will hardly score a new all-time high this year and will not go any further than its historic peak of $73,750 reached on March 14.
However, Santiment pointed out, mass Bitcoin liquidations like this make the probability of a continued Bitcoin rebound a lot more likely.
Currently, the total Bitcoin holder dump comprises 672,510 fewer than a month ago.
👋 Bitcoin's amount of holders (any wallets with >0 coins) have been dropping aggressively as traders still seem to believe the March ATH was as good as it's going to get in 2024. When we see mass liquidations like this, the probability of a continued rebound only increases. pic.twitter.com/YTHEFTtfhY
— Santiment (@santimentfeed) July 17, 2024
Bitcoin to reach $1 million, Samson Mow names time frame
As reported earlier this week, prominent Bitcoin supporter and Jan3 CEO Samson Mow once again confirmed his earlier prediction that he expects the flagship cryptocurrency to skyrocket to the $1 million price tag.
However, this time, he also named an approximate time frame when he expects this immense price growth to take place – within a year from now.
Overall, the Jan3 boss believes that once Bitcoin succeeds in reaching $100,000, a bull run will begin, and it will take BTC to the $1 million historic peak. He published that post in order to prevent retail investors from thinking that Bitcoin is over and done with.
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Bitcoin evangelist Michael Saylor, cofounder and executive chairman of the largest corporate Bitcoin holder, MicroStrategy, also published a tweet on Wednesday, which says “Bitcoin to The Moon.”
At the time of this writing, Bitcoin is changing hands at $64,894.
