Small Bitcoin wallets are booming: addresses with less than 1 BTC are increasing

With Bitcoin’s renewed bullish momentum, strong optimism and confidence in the flagship digital asset has increased significantly in the crypto community. This means that small-scale or Private investors show a strong interest in BTC, which is evidenced by the fact that they accumulate the coin continuously and quickly.

Small Bitcoin wallets under 1 BTC on the rise

In a significant development, the number of Bitcoin wallet addresses with less than 1 BTC has increased significantly. Axel Adler Jr., market expert and verified author at CryptoQuant, divided the positive progress in small wallet addresses on the X platform (formerly Twitter).

In particular, this increase in addresses under 1 BTC highlights the growing activity of smaller retail investors and reflects Bitcoin’s position as a leading asset. This also suggests growing confidence in BTC’s long-term prospects Individuals continue to accumulate the crypto asset despite the recent market turmoil.

Data from the author of CryptoQuant shows that the average number of wallet addresses with 1 BTC or less has increased to about 323,000 Bitcoin is currently trading at $101,000. This growth represents an increase of over 21% from previous levels. Adler highlighted that these addresses began to rise at the $61,000 price mark, which was about $265,000.

Although these holders are referred to as “shrimps,” Adler noted that they are showing great confidence in Bitcoin’s growth by maintaining their holdings at current levels. Therefore, given the current trend, the on-chain expert believes that addresses under 1 BTC will steadily increase and reach 351,000 in the near future.

As prices continue to rise, this trend could be an indication of base demand and the decentralized adoption that is driving the adoption of Bitcoin. Additionally, growth at the retail level could be crucial to the future price dynamics of the crypto asset.

Major investors’ confidence in BTC’s prospects remains strong

A similarly robust optimist Feeling was also mentioned among large investors or whales who hold more than 1,000 BTC. Recent reports show that the total number of BTC held by these investors has seen a significant increase over the past week.

eagle reported that these holders have accumulated more than 3,867 million BTC and is still increasing. With this strong accumulation of both small and large investors, the price of Bitcoin could finally reach the strength needed for significant upward growth.

This increase in BTC whales comes amid increased market interest, and a continued rise could act as a bullish signal for the price development of the digital asset. At the time of writing, Bitcoin was showing a healthy movement and was trading in the $105,115 price range. The asset is up almost 4% in the last 24 hours.