IntoTheBlock reports the total Bitcoin wallet (BTC) ownership of less than a month saw a decline as the price of the crypto king plunged by $ 10,000 in less than a week.
Be aware, Bitcoin has been facing a price correction since the end of December, hovering at a price level of around $ 45,000- $ 32,000 to date.
On January 20, BTC jumped above the $ 43,500 level before crossing the $ 33,000 level on January 24th.
The sharp collapse of the Bitcoin price that day did not threaten long term investors (long term hodlers).
They did not hesitate to add more assets, just as most whales do including El Salvador.
However, amateur investors (those who have just ventured into Bitcoin investing) are uncomfortable with the volatility of the crypto market, causing them to sell assets during a price collapse and face huge losses!
It is understood that this group of amateur investors have reduced their BTC holdings by 36% for a one -month period of observation.
At the time of writing, Bitcoin is trading at $ 36,890, down nearly 3% in 24 hours.
