PANews reported on 10 November 2026 that Santiment said the number of non-empty Bitcoin wallets reached 59.99 million on 16 October, approaching the 60 million mark. After the price fell below $75,000, the wallet total declined by about 108,700, which Santiment described as retail investors losing patience.
What a lower wallet count does not show
Santiment said a drop in wallet numbers does not automatically mean Bitcoin’s utility is shrinking. In longer declines, small traders often consolidate or empty wallets out of fear. The firm said this kind of retail capitulation has historically often been a necessary factor before major recoveries.
Conditions Santiment attached
Santiment added two conditionals. If wallet numbers continue to fall while the price stops declining, the signal would be more bullish. If Bitcoin holds the $74,000 to $75,000 area while the number of holders declines, that would show fear rising without triggering another large drop.
The 16 October figure is the 59.99 million Santiment reported as approaching 60 million, not a count of 60 million. The reduction of about 108,700 and the price levels above are the observations PANews attributed to Santiment in its 10 November 2026 report.
