Summary
- According to on-chain analytics firm Santiment and CoinMarketCap, whale investors moved to sell during the upswing in Bitcoin's price.
- Bitcoin whales sold about 66% of the coins they had accumulated recently when the price reached $74,000.
- Retail investors are buying when prices fall, which is typically interpreted as a signal that the correction may not be over yet.
Forecast Trend Report by Period
Bitcoin (BTC) has rebounded to around $74,000 recently, and large holders appear to have sold a significant portion of their positions.
According to a post CoinMarketCap shared on X (formerly Twitter) on the 9th, on-chain analytics firm Santiment said it had observed that "whale investors moved to sell during the latest upswing in Bitcoin's price."
Santiment added, "When Bitcoin whales saw the price reach $74,000, they sold about 66% of the coins they had accumulated recently."
By contrast, retail investors appear to be buying during downturns. Santiment said, "Retail investors are stepping in to buy when prices fall," adding that "this pattern is typically interpreted as a signal that the correction may not be over yet."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
