Bitcoin “shrimps” are showing firm conviction that the price of Bitcoin is going to continue its uptrend, according to a crypto analyst.
Bitcoin wallets holding less than 1 BTC are expected to grow by approximately 9% in the near term as small-scale investors keep accumulating despite the asset breaking past the $100,000 mark, according to a crypto analyst.
“Despite being labeled as “shrimps,” these holders are showing strong confidence in Bitcoin’s growth, continuing to accumulate coins even at current price levels,” CryptoQuant contributor Axel Adler said in a Dec. 14 X post.
Shrimp wallets are an important indicator for crypto market participants to understand the level of “retail interest” in Bitcoin (BTC). Axel said that the average number of Shrimp addresses holding less than 1 Bitcoin currently stands at 323,000, an amount he expects to increase by a further 8.67% in the near term:
