As Bitcoin reaches the $100,000 milestone, wallets known as 'shrimps', holding less than 1 BTC, continue to expand. This reflects strong retail investor interest.
Rising Number of Shrimp Wallets
According to CryptoQuant analyst Axel Adler, despite Bitcoin's increased price, shrimp wallets continue to accumulate coins. Currently, there are 323,000 such addresses, with projections of growth to 351,000, marking an 8.67% increase. This positive momentum began when Bitcoin was at $61,000, with shrimp wallets at 265,000 back then.
Long-Term Holder Strategy
In contrast, long-term holders, retaining Bitcoin for over 155 days, have been actively selling their assets. Recent data indicates they sold 827,783 BTC over the past month, raising concerns about a potential market top. Analysts suggest that while further corrections are possible, they may not be as severe as the recent 10% dip.
Retail Interest Analysis
The expansion of shrimp wallets underscores retail investors' confidence in Bitcoin's future value. As Bitcoin stabilizes at $101,549, markets exhibit a complex dynamic with some cashing out and others accumulating, maintaining bullish sentiment among retail participants.
Whether Bitcoin continues to climb or faces further corrections is uncertain, but the steadfast faith of shrimp holders indicates belief in Bitcoin's potential among retail investors.
