Beyond the performance of Bitcoin (BTC), there is a subtle twist taking place on the BTC network, as by crypto analytics platform, Santiment. According to the platform, Bitcoin’s wallets have recorded massive fluctuations over the past few months, and the market has been largely erratic.
In a dramatic twist, addresses with less than one Bitcoin have flooded the network, as holders with one to 100 units flatten out. As Santiment observed, Bitcoin wallets holding more than 100 BTC units are in the middle of what looks like a profit-taking campaign.
The data shows that small Bitcoin addresses have hit a new high, with over 1.5 million more of these holders emerging in the past month. Those within the 1-100 Bitcoin cadre have lost 118 addresses over the past month, and large wallet holders with over 100 BTC have seen 19 addresses removed within the same time span.
This highly anticipated product with a 90% is considered the predominant channel for institutional investors to make their way into the Bitcoin ecosystem. This event will also help take the price of Bitcoin to , with many it might usher in the next major bull market cycle.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
