Fearful Bitcoin traders are a good indicator of the $BTC price

Thursday's Bitcoin price is rangebound beneath the $100,000 mark.
According on-chain statistics, small investors and retail traders are probably giving up out of anxiety.
Since December 10,the count of overall non-empty wallets on the Bitcoin blockchain has decreased to the lowest level ever.
According to Imran Lakha of Options Insight,as traders adjust to range-bound circumstances, the volatility of Bitcoin might stabilize after important events.
Small wallet holders and retail traders of Bitcoin $BTC cut their holdings in response to concern of a more severe fall in the biggest cryptocurrency by market capitalization.On Thursday, BTC price settles below the $100,000 mark, wiping less than 2% of its worth on that day.
Fearful Bitcoin traders are a good indicator of the $BTC price.
According to Santiment's crypto intelligence platform, three weeks ago Bitcoin had 277,240 more non-empty wallets than it has now. The metric's movement suggests that retail traders and tiny wallet holders are selling their BTC as they are worried about further token devaluation.
Usually indicating a concern of a market-wide crypto correction, the reduction in retail perception might signal improved mid-to long-term price performance for the coin. While smallholders and retail traders reduce their $BTC holdings, Santiment's experts see that whales and sharks—that is,big and institutional investors of Bitcoin—accumulate the coins.
Historical records suggest that when anxiety is at its maximum among market players, whale accumulation might push up the price.
The total non-empty wallets on Bitcoin's network have decreased to 54.44 million,the lowest level recorded since December 10, according to Santiment's statistics.