Bitcoin 'millionaire' wallets drop 80% in year of BTC price bear market

According to the latest data from on-chain analytics firm1 year, 90,000 fewer million-dollar BTC walletsof how far the crypto market has fallen since Bitcoin’s last all-time highs, Bitcoin millionaires have been seriously feeling the pinch.

Glassnode, which tracks multiple cohorts of BTC wallets, confirms that as of Nov. 25, there were 23,245 with a balance worth over $1 million. Contrast that with the scene from Nov. 8, 2021, when the tally hit its peak as BTC/USD approached its latest $69,000 all-time high — then, there were 112,898 “millionaire” wallets.Such addresses have fallen in line with spot price itself, subject to modest selling by owners at various points of Bitcoin’s year-long bear market.

Millionaire wallet numbers are down around 79% in that period, while BTC/USD saw a maximum drawdown of 77% this month, data from

It's only temporary. There will be many more millionaires when the bull market starts

Something to worry about

Glassnode confirms that as of Nov. 25, there were 23,245 with a balance worth over $1 million. Just a year ago, there were 112,898 “millionaire” wallets.

1 Bitcoin = 1 Bitcoin.

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Well hope we will handle it

Selling the top and buying the bottom by the sound of it.

I’m not giving up on bitcoin.

Hopefully the Mt. Gox people get their tokens soon.

Sigh... Still, I'm not selling.

Well.. it’s a about time to switch to GOPX!

'the purge' Few will rise from the ashes like a phoenix.

At least the same amount will rise at the beginning of 2024... And some 10,000 more...

No way

20% more to go..

Doesn't really matter. Just have to hodl through this bear market.

Thats nice

BNB

Thats nice!!

BNB

Thats nice!

Thats nice!!

Thats nice

Thats nice!

Thats nice

Thats nice

FACT

TKralow HODLERs dont care

Thats nice!!

Thats nice

BNB

BNB

FACT

BNB

Thats nice

Coz price dropping.. duh 1 million in BTC at $60k is obviously less now that BTC is at $16k lol

BTC tickers down $16,545 ' BTC millionaires are becoming an increasingly rare breed as numbers fall 80% in a year.' Makes sense since BTC price went down Almost 80% and Hodling is a thing

Redistribution is a feature not a bug.

No shit

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Bitcoin new 'worst case scenario' puts BTC bear market bottom near $6KAn 'unlikely' but still feasible worse case scenario floor for BTC is around $6,500, filbfilb believes. filbfilb 😉 filbfilb Crypto is a deadly filbfilb Untill scamers like Do Kwon SBf are there .. Their is no floor for BTC
แหล่ง: Cointelegraph - 🏆 562. / 51 อ่านเพิ่มเติม »

Bitcoin’s new ‘worst case scenario’ puts BTC bear market bottom near $6KDecentrader's Filbfilb believes Bitcoin's capitulation action may drive price back to the area double the bear market bottom of 2018. FUD much? It’s a target to think about… that may not necessarily be achieved… but there are some smart, deep pockets that are going to try and smash it there with derivatives No
แหล่ง: Cointelegraph - 🏆 562. / 51 อ่านเพิ่มเติม »