Santiment: “Small Bitcoin Addresses Are Reviving!” Has Bull Preparation Began?

Cryptocurrency stock market FTXwhich was hit hard by the bankruptcy of Bitcoin (BTC) had a nice rally with the start of the new year.

BTC Although this rally seems to have already paused, the popular cryptocurrency analysis platform centiment He said on-chain data shows there may be general optimism among investors.

Santiment shared today, as of February 6, 620,000 small bitcoin explained that his address has resurfaced on the network at an increasing rate since the collapse of FTX.

According to Santiment, resurfaced addresses hold about 0.1BTC or less. These addresses show signs of resurgence in 2023, especially after Bitcoin regained $20,000.

Santiment shared the following statements:

“With the price regaining $20,000 on Jan. 13 and the return of FOMO, 620,000 small Bitcoin addresses have been reopened on the network.

Mini Bitcoin addresses are popping up fast and growing at the highest rate since the collapse of FTX.

These addresses hold about 0.1BTC or less.

These addresses grew slowly in 2022, but 2023 shows us the return of trader optimism.”

🧐 There have been ~620k small #Bitcoin addresses that have popped back up on the network since #FOMO returned on January 13th when price regained $20k. These 0.1 $BTC or less addresses grew slowly in 2022, but 2023 is showing a return of trader optimism. https://t.co/CUAS0nV23x pic.twitter.com/wo8NBDNXs3

— Santiment (@santimentfeed) February 6, 2023

Commenting on Santiment’s share, experts evaluated that the resurgence in small addresses shows that more people are interested in investing in Bitcoin, which is a promising sign for the crypto money market.

Pinned to $ 24,250 on February 2 bitcoinIt declined to the levels of $ 22,600. at the time of writing BTC It continues to trade at $22,838.

*Not investment advice.