According to the latest data from on-chain analytics firm Glassnode, there are now just 23,000 wallets with BTC balances worth $1 million or more.

One year, 90,000 less than millions of dollars in BTC wallets
In another indication of how much the cryptocurrency market has fallen since Bitcoin’s last all-time highs, bitcoin millionaires have been feeling the pinch.

Glassnode, which tracks multiple batches of BTC wallets, confirms that as of November 25, there were 23,245 with balances of over $1 million.

Contrast that with the scene from November 8, 2021, when the tally peaked as BTC/USD approached an all-time high of $69,000 — then, there were 112,898 “millionaire” wallets.

Bitcoin wallets with a planned balance of $1 million or more. Source: Glassnode
These addresses are in line with the spot price itself, which are subject to modest selling by holders at various points in the Bitcoin bear market throughout the year.

Millionaire Portfolio numbers are down around 79% in that period, while BTC/USD has seen a maximum decline of 77% this month, data from Cointelegraph Markets Pro and TradingView shows.

BTC/USD 1-week candlestick chart (Bitstamp). Source: TradingView
Bitcoin address numbers in “up only” mode
As Cointelegraph reported, meanwhile, the picture looks somewhat different in terms of BTC. Since the FTX implosion, certain portfolio categories have accumulated.

Related: How Low Can Bitcoin Price Go?

In addition, as noted by the founders of the Decentrader trading group this week, exchange users withdrawing funds to private storage and blockchain wallets are likely responsible for the surge in wallets holding 1 BTC or more.

As of November 27, these total over 952,000 – a record high in Bitcoin history.

Bitcoin wallets with a balance of 1 BTC or more. Source: Glassnode
However, Glassnode shows that even the smallest classes of investors – those with 0.01 BTC or more in their portfolios – have been getting bigger lately.

Overall, however, non-zero-balance addresses have been declining since November 18, its data shows — a relatively rare trend break last seen in April 2021.

Source: CoinTelegraph