The decrease in the number of wallets could be a sign contrary to market trends, but it does not prove that Bitcoin has reached its price bottom. Bitcoin may be approaching a local bottom as smaller holders continue to exit the market. Since October 16, the number of wallets with balances has decreased by 30,000. Santiment has found that this number has reached approximately 59.95 million.
❓ Unknown
Bitcoin Has Lost 30,000 Wallets: Could This Be Good News for It?
3d ago
October 28, 2026
1 min read
📰 Donya-e-Eqtesad
📋 Key Takeaway
Bitcoin has seen a reduction of 30,000 wallets since mid-October, indicating a potential exit of smaller holders from the market. This trend raises questions about whether Bitcoin is nearing a price bottom.
🔍 Quick Context Guide
💡 Bottom Line:
The reduction in Bitcoin wallets could signal market instability, which may have broader implications for investors.
👥 Key Players
Bitcoin investors
MENTIONED
Market participants
"They influence Bitcoin's price and market trends."
Santiment
MENTIONED
Data analytics firm
"They provide insights and analytics on cryptocurrency market behavior."
📰 What Happened
Bitcoin has experienced a reduction of 30,000 wallets since mid-October, indicating that smaller holders are exiting the market. This trend raises questions about whether Bitcoin is nearing a price bottom.
- The total number of Bitcoin wallets has decreased to approximately 59.95 million.
- The trend suggests potential market instability as smaller investors sell off their holdings.
💡 Why It Matters
🇮🇷 For Iran: The decline in Bitcoin wallets may affect Iranian investors who have turned to cryptocurrencies amid economic sanctions.
🌍 Regional: Regional investors may be influenced by global market trends, impacting local economies.
🌐 International: International investors and regulators may view this trend as a sign of market instability, affecting their strategies.
📚 Background
Bitcoin is a decentralized digital currency that has seen significant volatility, attracting both small and large investors. The number of wallets is often used as an indicator of market health.
Cryptocurrency market trends
Impact of economic sanctions on digital currencies
📡 Source:
NEUTRAL
📊 Confidence:
70%
The analysis is based on data from Santiment, a reputable source for cryptocurrency analytics.
🏷️ Entities Mentioned
🌐
Translated from the original and edited for English readers. View original source →
Translation confidence: 85%
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