The last similar wallet exit rate in 2024 saw more than 964,000 wallets exit over the course of five weeks, before a notable climb.
Bitcoin (BTC) has abandoned about 245,000 wallet holders in just five days, the fastest wallet exit rate in nearly two years, according to on-chain analytics firm Santiment.
The last time this happened at a similar pace, in the summer of 2024, it was a harbinger of one of the most notable bull runs in recent memory.
Wallet exits are accumulating
According to Santiment, the decline is likely related to retailers taking profits, which is what happened He explained What these wallet exits mean in practice:
“When bondholders leave, the remaining supply pools in the hands of those with the highest conviction. These are participants who have already decided that they are not selling at current prices, meaning the effective liquid supply available to the market is diminished.”
The analytics firm also pointed to a June-July 2024 episode that saw more than 964,000 wallets exit over the course of five weeks. Instead of causing a sustained contraction, this period laid the groundwork for the upward wave that followed.
Santiment’s reading of the current situation is similar, and its analysts said that if history repeats, portfolios exiting now will hand over their positions to “precisely the type of long-term holders who tend to consolidate the next stretch.”
This latest decline in coin holders came when Bitcoin fell below the $80,000 level it jumped to at the beginning of the week. Before the dive, that is jump to a multi-month peak near $83,000, but a correction brought it back to nearly $81,000, where it fell Found Some support.
BTC needs to get back above $80k
The sequence described above is important considering analyst Ali Martinez It has been identified $80,300 as the average cost basis for wallets that have purchased Bitcoin in the last 155 days.
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At the time of writing, the asset is trading at around $79,500, down around 2% in the past 24 hours and still around 37% below its all-time high in October 2025.
This means, therefore, that the new whales are currently underwater, which could prompt them to sell just to break even, and according to Martinez, such panicked exits could create a wave of selling pressure that could push prices down further.
On a monthly basis, it’s up about 11%, and the seven-day range is between $77,000 and $82,500, giving a reasonable sense of where the market has been bouncing.
If you can turn $80,300 around, that puts large holders back in the green, causing them to stop selling and start chasing higher targets, which, as Martinez puts it, “is exactly how new uptrends start.”
