{"id":598983,"date":"2024-03-21T13:00:13","date_gmt":"2024-03-21T13:00:13","guid":{"rendered":"https:\/\/uniquehot.com\/?p=598983"},"modified":"2024-06-11T07:01:59","modified_gmt":"2024-06-11T07:01:59","slug":"bitcoin-traders-capitulate-what-last-2-times","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-traders-capitulate-what-last-2-times\/","title":{"rendered":"Bitcoin Traders Capitulate: Here’s What Happened Last 2 Times"},"content":{"rendered":"

On-chain data shows the Bitcoin investors have been capitulating recently, a sign that FUD has been gripping the market.<\/p>\n

Bitcoin Total Amount Of Holders Has Seen A Drop Recently<\/h2>\n

According to data from the on-chain analytics firm Santiment<\/a>, the Bitcoin Total Amount of Holders has registered a notable decline recently. The “Total Amount of Holders<\/a>” here is an indicator that measures the total number of addresses on the BTC blockchain that are carrying some non-zero balance right now.<\/p>\n

When the value of this metric trends up, it can mean that fresh hands are potentially investing into the cryptocurrency, opening new addresses and adding coins to them.<\/p>\n

Related Reading: Solana Whale Makes Massive 1,000,000 SOL Deposit To Binance, Bearish Sign?<\/a><\/div>\n

The indicator would naturally also increase if any investors who had left the asset before are returning back to it and filling up their wallets again. Another possible reason for the trend can also be due to holders breaking up their holdings into multiple wallets, for purposes like privacy.<\/p>\n

In general, though, an increase in the Total Amount of Holders is usually a sign that net adoption<\/a> of the coin is taking place, which can be a bullish sign in the long term.<\/p>\n

On the other hand, a decline in the indicator can signal that some investors have decided to leave the cryptocurrency behind, as they have completely liquidated their holdings.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin Total Amount of Holders over the past few months:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric appears to have gone through a drawdown in recent days | Source: Santiment on X<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin Total Amount of Holders has suffered a decrease during the past 10 days or so. In all, 311,000 addresses have completely emptied themselves inside this window.<\/p>\n
“To a novice trader, this may appear to be a concern with less overall active participants. However, historically this stat has reflected FUD moments in the market, indicating small BTC wallets are typically capitulating as large wallets scoop up their coins,” explains Santiment.<\/p>\n
From the chart, it’s visible that there have also been two other instances of mass capitulation<\/a> within the past few months. More specifically, 1.1 million addresses exited between the 23rd of September and 23rd of October, while 757,000 capitulated between the 21st of January and 13th of February.<\/p>\n
Interestingly, during these capitulation events, the price went up 28% and 24%, respectively. So far since the latest selloff from the small hands has started, the cryptocurrency is down about 3%.<\/p>\n
Related Reading: Santiment Reveals Best Altcoins Currently In \u201cOpportunity Zone\u201d<\/a><\/div>\n
“If history is any indication, Bitcoin has a strong chance of putting up positive returns before this exodus of non-0 wallets this round (due to traders thinking the top is in) finally stops,” notes the analytics firm.<\/p>\n
BTC Price<\/h2>\n
Since Bitcoin’s low at $60,600, the asset has enjoyed some sharp recovery as its price has now surged to the $66,800 level.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the value of the coin has climbed back up over the past day | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Shutterstock.com, Santiment.net, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin investors have been capitulating recently, a sign that FUD has been gripping the market. Bitcoin Total Amount Of Holders Has Seen A Drop Recently According to data from the on-chain analytics firm Santiment, the Bitcoin Total Amount of Holders has registered a notable decline recently. The “Total Amount of Holders” here is an indicator that measures the total number of addresses on the BTC blockchain that are carrying some non-zero balance right now. When the value of this metric trends up, it can mean that fresh hands are potentially investing into the cryptocurrency, opening new addresses and adding coins to them. Related Reading: Solana Whale Makes Massive 1,000,000 SOL Deposit To Binance, Bearish Sign? The indicator would naturally also increase if any investors who had left the asset before are returning back to it and filling up their wallets again. Another possible reason for the trend can also be due to holders breaking up their holdings into multiple wallets, for purposes like privacy. In general, though, an increase in the Total Amount of Holders is usually a sign that net adoption of the coin is taking place, which can be a bullish sign in the long term. On the other hand, a decline in the indicator can signal that some investors have decided to leave the cryptocurrency behind, as they have completely liquidated their holdings. Now, here is a chart that shows the trend in the Bitcoin Total Amount of Holders over the past few months: The value of the metric appears to have gone through a drawdown in recent days | Source: Santiment on X As displayed in the above graph, the Bitcoin Total Amount of Holders has suffered a decrease during the past 10 days or so. In all, 311,000 addresses have completely emptied themselves inside this window. “To a novice trader, this may appear to be a concern with less overall active participants. However, historically this stat has reflected FUD moments in the market, indicating small BTC wallets are typically capitulating as large wallets scoop up their coins,” explains Santiment. From the chart, it’s visible that there have also been two other instances of mass capitulation within the past few months. More specifically, 1.1 million addresses exited between the 23rd of September and 23rd of October, while 757,000 capitulated between the 21st of January and 13th of February. Interestingly, during these capitulation events, the price went up 28% and 24%, respectively. So far since the latest selloff from the small hands has started, the cryptocurrency is down about 3%. Related Reading: Santiment Reveals Best Altcoins Currently In \u201cOpportunity Zone\u201d “If history is any indication, Bitcoin has a strong chance of putting up positive returns before this exodus of non-0 wallets this round (due to traders thinking the top is in) finally stops,” notes the analytics firm. BTC Price Since Bitcoin’s low at $60,600, the asset has enjoyed some sharp recovery as its price has now surged to the $66,800 level. Looks like the value of the coin has climbed back up over the past day | Source: BTCUSD on TradingView Featured image from Shutterstock.com, Santiment.net, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":598989,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,11680,83676,84783,87375,16136,1119,1144],"class_list":["post-598983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bullish","tag-bitcoin-capitulation","tag-bitcoin-fud","tag-bitcoin-selling","tag-bitcoin-selloff","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Traders Capitulate: Here's What Happened Last 2 Times<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin investors have been capitulating recently, a 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Traders Capitulate: Here’s What Happened Last 2 Times","url":"http:\/\/uniquehot.com\/news\/bitcoin-traders-capitulate-what-last-2-times\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-traders-capitulate-what-last-2-times\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/shutterstock_1165586542_079eab.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/shutterstock_1165586542_079eab.jpg?fit=4000%2C2670"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bullish","bitcoin capitulation","bitcoin fud","bitcoin selling","bitcoin selloff","btc","btcusd"],"dateCreated":"2024-03-21T13:00:13Z","datePublished":"2024-03-21T13:00:13Z","dateModified":"2024-06-11T07:01:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Traders Capitulate: Here’s What Happened Last 2 Times\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-traders-capitulate-what-last-2-times\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-traders-capitulate-what-last-2-times\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/shutterstock_1165586542_079eab.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/shutterstock_1165586542_079eab.jpg?fit=4000%2C2670\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bullish\",\"bitcoin capitulation\",\"bitcoin fud\",\"bitcoin selling\",\"bitcoin selloff\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-03-21T13:00:13Z\",\"datePublished\":\"2024-03-21T13:00:13Z\",\"dateModified\":\"2024-06-11T07:01:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/shutterstock_1165586542_079eab.jpg?fit=4000%2C2670","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/598983"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=598983"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/598983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/598989"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=598983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=598983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=598983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}