What happened? The number of Bitcoin holders has dropped dramatically

On-chain data aggregator Santiment has observed a significant decrease in the number of cryptocurrency wallets holding at least one whole Bitcoin.

Holder Dump

Santiment analysts noted an aggressive decline in this key metric, attributing it to traders’ belief that Bitcoin may not reach a new all-time high this year, remaining below its historic peak of $73,750 set on March 14.

Potential Rebound

Despite this trend, Santiment suggests that such mass liquidations could increase the likelihood of a Bitcoin rebound.

Currently, the number of Bitcoin holders has decreased by 672,510 compared to last month.

Price Predictions

Earlier this week, Jan3 CEO and prominent Bitcoin advocate Samson Mow reiterated his prediction that Bitcoin could reach $1 million within a year.

Mow believes that once Bitcoin hits $100,000, it will trigger a bull run leading to the $1 million milestone.

His comments aim to reassure retail investors that Bitcoin still has significant growth potential.

Enthusiastic Support

Michael Saylor, co-founder and executive chairman of MicroStrategy, the largest corporate Bitcoin holder, echoed similar sentiments in a recent tweet, stating “Bitcoin to The Moon.”

At the time of writing, Bitcoin is trading at $64,679.

While the decline in Bitcoin holders signals current market pessimism, optimistic projections from industry leaders like Samson Mow and Michael Saylor suggest potential for substantial future gains.