Bitcoin loses 30,000 funded wallets as ETF outflows intensify, price tests $80,000

Bitcoin has experienced a notable decrease in its active user base, with 30,000 funded wallets closing since October 16. Data from Santiment indicates that the total number of non-empty Bitcoin addresses dropped to 59.95 million by October 26, reinforcing concerns about declining retail participation. This decline in wallets coincides with increased warnings that Bitcoin could face additional downward pressure. Santiment’s analysis highlights that retail participants may be stepping away from the market after extended stagnation. These wallet figures, which represent funded on-chain addresses, are not a precise measure of unique investors, since individuals often control multiple addresses. Still, the declining numbers mark a shift in market sentiment and may affect speculative interest going forward. Despite this decline in wallet numbers, Bitcoin’s price approached $80,000 on Monday, after briefly touching $79,332.

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