Drop in Ethereum-based USDT addresses may be bullish for BTC, says Santiment

The number of addresses holding Ethereum-based USDT has fallen by 72,841, or 0.54%, over the past 48 hours, according to data from Santiment. The analytics firm noted this decline is unusual, as the metric has typically shown a net increase almost every day. Santiment highlighted a similar decrease between Dec. 19 and Dec. 31, 2024, which was followed by a 10% surge in Bitcoin's price over the subsequent two weeks. The firm suggested this pattern is likely to repeat.