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The number of wallet addresses holding a Bitcoin balance has fallen by about 30,000 over the past 10 days, which could signal a market bottom, according to a Santiment analysis cited by Bitcoin.com. In a recent report, Santiment said periods of declining wallet addresses can be interpreted as capitulation selling by small holders in reverse. Santiment added that after roughly 70,000 addresses holding under 10 BTC disappeared in July and August, BTC later rebounded to $85,000. The platform said the first support zone is $80,000, and a rebound may be possible if BTC holds that level and recovers $82,000 during the decline in wallet addresses. It added that if BTC falls below $79,000, the bottoming thesis would weaken.