In a report published on November 10, 2026, at 14:05 (UTC+8), Jinse Finance said Santiment Intelligence had written on X that the number of Bitcoin wallets with a non-zero balance had fallen by about 108,700 since October 16.
Santiment said the count reached 59.99 million on October 16, just short of 60 million, and that the total then declined by about 108,700. With BTC back below $75,000, the firm said smaller holders were becoming less patient.
What the wallet drop does and does not show
Santiment said a lower wallet count does not mean Bitcoin’s actual use is shrinking. In its account, during a long decline small traders often merge wallets or empty them as panic increases. The firm described that behavior as retail capitulation and said it has historically been an important feature before many large rebounds in crypto markets. That historical claim belongs to Santiment; this report does not independently verify it.
Conditions Santiment attached to the reading
Santiment did not treat the wallet decline alone as a completed signal. It set out later conditions:
- If wallet numbers keep falling and price begins to stabilize, the firm said the signal would be more bullish.
- If BTC holds near $74,000 to $75,000 while the number of holders falls, Santiment said panic would be rising but price would not yet have broken down much further.
- It also said Bitcoin held on exchanges had fallen to about 1.28 million BTC.
- If BTC moves back above $78,000 to $80,000 while retail capitulation continues, Santiment said that would further support the view that selling pressure is being exhausted, and could mean shrewd investors are accumulating.
Those price ranges and the accumulation reading are Santiment’s conditional statements as of the November 10, 2026 report. The report does not say BTC had reclaimed $78,000 to $80,000, and it gives no horizon beyond the period after October 16. On the terms Santiment itself set out, the reading would be weaker if wallet counts stopped falling, if price did not steady near $74,000 to $75,000, or if BTC did not return to $78,000 to $80,000 alongside continued retail selling. The report supplies no further figures on those outcomes.
Source: Jinse Finance, November 10, 2026, 14:05 (UTC+8), citing Santiment Intelligence’s post on X.