{"id":295931,"date":"2023-02-06T09:20:36","date_gmt":"2023-02-06T09:20:36","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=295931"},"modified":"2023-02-06T09:44:23","modified_gmt":"2023-02-06T09:44:23","slug":"over-600k-small-addresses-fomoed-into-bitcoin-at-20k","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/over-600k-small-addresses-fomoed-into-bitcoin-at-20k\/","title":{"rendered":"Over 600,000 small addresses FOMO&#8217;ed into Bitcoin at $20k"},"content":{"rendered":"<p>Around 620,000 new Bitcoin (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) addresses holding 0.1 BTC or less joined the network when the flagship asset regained the $20,000 mark on Jan. 13, according to Santiment data.<\/p>\n<figure style=\"width: 3016px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/FoQ9cgDaAAA25Ln?format=jpg&name=4096x4096\" alt=\"Bitcoin Addresses\" width=\"3016\" height=\"1830\" \/><figcaption class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>The blockchain analytical firm noted that these investors were majorly driven by the fear of missing out (FOMO) on the BTC bounce that took the asset's value to as high as $24,167 in 30 days.<\/p>\n<p>During this period, BTC market sentiments <a href=\"https:\/\/cryptoslate.com\/bitcoin-fear-and-greed-index\/\">entered<\/a> the &#8220;greed&#8221; zone for the first time since March 2022.<\/p>\n<p>The total number of these addresses reached 39.8 million, Santiment <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1622490808359481347?s=20&t=caDtjsHurISoj3oSlW5ixg\">added<\/a> \u2014 the highest level since Nov. 19 amidst the FTX collapse.<\/p>\n<p>Bitcoin analysts <a href=\"https:\/\/twitter.com\/s_michaelsteele\/status\/1606404664215445531?s=20&t=Z72g_2mfU8cRe8Kbybc5Hg\">said<\/a> this cohort accumulation is good for the network because it would make the asset more decentralized over time.<\/p>\n<p>Meanwhile, amid this cohort's new wave of investments, \u00a0a significant whale transaction occurred on Feb. 4, Santiment <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1621701733218160641?s=20&t=Rgf0_4g5Zr1cJ4K79huTmg\">reported<\/a>. A new whale address went from holding zero BTC to 13,369 BTC in one transaction, according to the firm. It added that this was the largest BTC transaction in the previous four weeks.<\/p>\n<h2>Bitcoin drops below $23k<\/h2>\n<p>Following a solid price performance in January, BTC price fell by roughly 4% since the beginning of February, according to <em>CryptoSlate<\/em>\u00a0data.<\/p>\n<p>The digital asset experienced a mild sell-off over the weekend that took its value to below <a href=\"https:\/\/cryptoslate.com\/insights\/nearly-400m-in-liquidations-over-24-hours-pushes-bitcoin-above-23k\/\">$23,000<\/a> on Feb. 5, liquidating around $30 million from the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Around 620,000 new Bitcoin (BTC) addresses holding 0.1 BTC or less joined the network when the flagship asset regained the $20,000 mark on Jan. 13, according to Santiment data. The blockchain analytical firm noted that these investors were majorly driven by the fear of missing out (FOMO) on the BTC bounce that took the asset&#8217;s [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":295960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,120],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Over 600,000 small addresses FOMO&#039;ed into Bitcoin at $20k<\/title>\n<meta name=\"description\" content=\"Bitcoin analysts said this cohort accumulation is good for the network because it would make the asset more decentralized over time.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/over-600k-small-addresses-fomoed-into-bitcoin-at-20k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Over 600,000 small addresses FOMO&#039;ed into Bitcoin at $20k\" \/>\n<meta property=\"og:description\" content=\"Bitcoin analysts said this cohort accumulation is good for the network because it would make the asset more decentralized over time.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/over-600k-small-addresses-fomoed-into-bitcoin-at-20k\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-06T09:20:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-06T09:44:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/bitcoin-fomo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/over-600k-small-addresses-fomoed-into-bitcoin-at-20k\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/over-600k-small-addresses-fomoed-into-bitcoin-at-20k\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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