Does the Drop in Bitcoin Addresses Suffice to Talk About Capitulation?

The decrease in the number of wallets holding funds revives questions about the behavior of retail investors. In less than a month, Santiment recorded nearly 109,000 fewer non-empty addresses. Some analysts talk about a possible bitcoin capitulation, but the figures do not all tell the same story. Between differences in measurement, platform usages, and the arrival of Telegram wallets, these data require careful reading before any conclusions o…