Bitcoin’s bottom slowly erodes as whale wallets increase by 3%
The number of wallets with less than $10 in BTC swelled by 75% in the same period but cryptocurrency’s middle class shrank.
The number of Bitcoin (BTC) wallets containing 1,000 or more BTC has increased by nearly 3.5% over the past 52 weeks. This growth is accompanied by a 75% increase in the number of wallets containing 0.0001 or less.
On the surface, these numbers indicate growth at both ends of the spectrum. However, a categorical examination shows that Bitcoin’s middle class — those holding between one and ten BTC — appears to be shrinking.
A chart showing the increase in wallets and their holdings between Oct. 1, 2023, and Sept. 23, 2024, segregated by total BTC. Source: Google
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Author: Tristan Greene
