Observing some interesting on-chain shifts for $BTC as we head into the end of the year.
The number of wallets holding ≥ 1 BTC has slipped about 2.2% since March, yet total supply held by large entities is actually up by over 136k coins. Technically, we're seeing price consolidate in a tight band around the $87k pivot, with volume thinning out as institutional rebalancing takes over from retail "whole-coiner" growth.
It looks less like a mass exit and more like a supply squeeze into concentrated, long-term hands.
Do you think this wallet consolidation is a sign of a maturing market, or just a temporary pause before the next move?
