Bitcoin (CRYPTO: BTC) shed 245,000 wallets in five days, the fastest holder decline in nearly two years, as BTC holds just below the critical 200 EMA at $82,041.

Capitulation Fuels Bull Runs

The wallet exodus marks the sharpest drop since summer 2024, when Bitcoin lost over 964,000 wallets across five weeks before launching into the bull run that followed, according to Santiment.

Holders leave during both price drops out of fear and price rises out of doubt. 

That means the remaining supply consolidates into the hands of participants with the highest conviction, who have already decided they are not selling at current prices.

With fewer coins actively circulating and more locked away in…

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