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Bitcoin Retailers Retreat? Small Wallet Addresses Decline Sharply As Market Turns Volatile

  • Bitcoin, the largest digital asset, has faced bearish movements and dropped below $95,000, affecting investor sentiment negatively.
  • Small Bitcoin wallet addresses holding 1 BTC or more, known as Shrimps holders, have been rapidly declining, indicating decreasing confidence in BTC's short-term prospects.
  • Whale investors have also shown selling pressure, with wallets holding between 1,000 BTC and 10,000 BTC selling off about 50,000 BTC, reflecting profit-taking actions at current levels.
  • Key metrics like Open Interest (OI) falling by over 37% and funding rates shifting to the negative side suggest a possible market reset or accumulation phase, as per on-chain analysts' observations.

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