The latest findings from Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicate that the combined balance of wallets holding small amounts of Bitcoin (BTC) continues to decline. This shows a downward trend in retail holders, which is in sharp contrast to the aggressive accumulation strategies of large holders.
Social media metrics reinforce what is being seen on-chain. The average mood toward Bitcoin has been declining consistently during the past two weeks, pointing to growing crowd weariness regarding the top coin’s near-term potential.