Bitcoin's non-empty wallet count has fallen by approximately 108,700 since October 16, according to Santiment Intelligence. The network recorded 59.99 million funded wallets that day, narrowly missing 60 million.
The decline comes as Bitcoin trades below $75,000 and smaller holders grow increasingly impatient.
CoinGecko data puts BTC at $74,286.50, up 0.17% over 24 hours but down 2.71% in seven days. The drop may signal retail capitulation, but it does not prove Bitcoin's utility is weakening.
Bitcoin Wallet Count Falls as Retail Holders Pull Back
That metric counts funded wallet addresses, not individual investors or overall network use.
One person can control several addresses, so wallet totals do not equal user totals. As prices weaken, smaller holders may consolidate funds into fewer addresses or empty wallets.
Once an address holds no BTC, it leaves the non-empty wallet count. That distinction matters because an address can become empty when its owner consolidates funds elsewhere, without leaving Bitcoin. The figures cannot show whether each departing address reflects a sale or consolidation.
Santiment linked the decline to smaller traders' impatience during price weakness. The firm said retail capitulation has often appeared before major recoveries. That is a market interpretation, not proof that a bottom has formed.
If BTC stabilizes around $74,000 to $75,000 while wallet numbers keep falling, selling pressure may be easing. Santiment also put exchange supply near 1.28 million BTC.
A recovery above $78,000 to $80,000 alongside continued retail capitulation would strengthen the case for seller exhaustion.
Bitcoin Price Levels Put CPI Release in Focus
Market analyst Lennaert Snyder is watching Bitcoin's reaction to the consumer price index release.
He said markets often consolidate before major economic data, so he is avoiding positions beforehand. His plan depends on price action after the release during the New York session.
Snyder identified a possible sweep below $73,500 as his preferred setup for a long trade. A liquidity sweep briefly pushes price through a level where stop orders may cluster.
He would wait for a clear market-structure shift before entering. His stated upside target sits above $76,200, where he sees buy-side liquidity.
Snyder's short areas remain around $78,000 and $80,000. He would wait for a clear trigger before considering either short setup. Those levels describe his trading plan, not confirmed support or resistance. He has therefore outlined conditional scenarios rather than a fixed direction for BTC.
Bitcoin now faces two watchpoints: shrinking wallet numbers and nearby liquidity levels ahead of CPI. If BTC holds near $74,000 to $75,000 as wallets decline, Santiment's exhaustion scenario gains support.
A move below $73,500 could first sweep the liquidity Snyder is monitoring. Traders will need to assess the post-CPI reaction before treating either scenario as confirmed.
The $73,500 level matters because Snyder wants confirmation after any liquidity sweep. The wallet decline remains a sentiment clue, not a standalone buy signal.
