cryptojournalist
Small Investors Show Confidence
Bitcoin wallets holding less than 1 BTC, often called “shrimp wallets,” are projected to grow by nearly 9% soon, according to crypto analyst Axel Adler. Despite Bitcoin’s price surpassing $100,000, these small-scale investors remain confident in the asset’s long-term potential and continue to accumulate.
Adler shared on December 14 that shrimp wallets currently number 323,000 and are likely to reach 351,000, based on the current growth trend.
Shrimp Wallets Signal Retail Interest
Shrimp wallets provide insight into retail interest in Bitcoin. Adler noted that this growth trend began when Bitcoin was trading at $61,000, with 265,000 shrimp wallets at the time. Since then, the number has grown by nearly 22%.
At publication, Bitcoin’s price stands at $101,720, showing continued retail interest even at high price levels.
Long-Term Holders Selling Bitcoin
While shrimp wallets are accumulating, long-term holders — wallets that have held Bitcoin for at least 155 days — have been selling. Over the past month, these holders offloaded 827,783 BTC, potentially signaling a market top.
Some analysts believe this selling pressure could lead to a bearish turn if buy-side demand weakens. However, Bitfinex analysts argue that recent dips won’t be as sharp as Bitcoin’s earlier 10% drop in December. They attribute this to reduced sell-side pressure and lower realized profits.
