According to CoinMeta, data from Santiment shows that on October 16th, the number of Bitcoin wallets with non-zero balances reached 59.99 million, and since then, it has decreased by about 108,700. As the price of BTC fell below $75,000, small holders began to sell off their holdings. Currently, the reserve volume on exchange BTC has dropped to around 1.28 million coins. If the price of BTC remains around $74,000 to $75,000, and retail investors continue to sell, the market will observe whether the selling pressure has been exhausted.