Analysts, led by Jurrien Timmer of Fidelity, indicate Bitcoin wallet count has not expanded significantly over the past year, suggesting potential issues with long-term adoption despite a price surge to 88,036.11 USD.

The decline in wallet usage among institutional investors has contributed to the stagnant growth of the Bitcoin network. Timmer highlights that fewer wallets are needed for substantial holdings, limiting the growth visibility.

Timmer emphasizes Bitcoin’s performance is lagging behind traditional markets like the S&P 500, raising concerns about its risk-reward profile as investors anticipate market corrections.