Bitcoin non-empty wallets fall by 109,000 in possible retail capitulation signal

According to Santiment data on Nov. 10, the number of non-empty Bitcoin wallets has fallen by about 108,700 since peaking at 59.99 million on Oct. 16, a move seen as reflecting small-scale investors exiting the market amid a prolonged correction and stagnant prices. On-chain analysts view this kind of retail capitulation as a typical precursor to bottom formation. In past cycles, broad retail exits and peak fear sentiment came ahead of major upswings. Bitcoin balances on exchanges have now fallen to around 1.28 million BTC, pointing to mounting supply pressure. Market watchers expect that if Bitcoin holds support in the $74,000-$75,000 range and reclaims $78,000-$80,000, exhausted selling and bargain accumulation by smart money could drive a broader trend reversal.