Cryptocurrency market, 11 spot markets recently approved by the SEC in the US Bitcoin Despite exchange-traded funds (ETFs), BTC is not progressing positively in terms of wallet activities.
Data from on-chain analytics firm Santiment shows a steady decline in the number of Bitcoin wallets holding more than zero coins, roughly four weeks after the landmark ETF approvals.
This trend appears to indicate increasing fear, uncertainty, and doubt among investors (FUD), as well as a shift in interest away from direct BTC ownership and towards alternative investment options.
Number of Bitcoin Active Wallets Drops
As we reported as Koinfinans.com, according to IntoTheBlock data, there is a significant decrease in daily active addresses, new addresses and active addresses, as well as an increase in addresses with zero balance.
While there was a sharp decrease of 35.95% in daily active addresses last week, new addresses decreased by 5.99% and active addresses decreased by 24.40%.
However, the most striking detail among this data is the total number of Bitcoin addresses, which is relatively stagnant. The data shows little fluctuation over the 30-day period, from a high of 51.93 million to a low of 51.45 million.
Bitcoin ETF The increased activity around its launch showed a mix of excitement and skepticism. Anthony Scaramucci, one of the leading names in the cryptocurrency world, loudly criticized the negative news in the media following ETF approvals.
Scaramucci counters the pessimistic outlook and challenges detractors on their definition of success, highlighting the significant $5 billion ETF exit.
This divide extends to financial institutions like LPL Financial, where a cautious approach is taken.
