PiCK
"Bitcoin (BTC) and Ethereum (ETH) Short-term Investors Gripped by Fear... A Buying Opportunity for Whales"
JH Kim
Summary
- Santiment reported that short-term investors are gripped by fear due to the further decline in the cryptocurrency market.
- It stated that especially new investors are experiencing FUD and are selling Bitcoin and Ethereum.
- Historically, when individual investors sell, the buying activity of whales has led to a rebound.
The on-chain analysis platform for cryptocurrencies, Santiment, reported on the 23rd (local time) via X (formerly Twitter) that "as the cryptocurrency market continues to decline this week, individual investors are feeling fear." It added, "New investors who joined the Bitcoin (BTC) and Ethereum (ETH) markets in the last 2-3 months are experiencing significant FUD (Fear, Uncertainty, Doubt)."
Furthermore, it analyzed that "historically, when individual investors start selling in panic, the buying activity of whales has led to a rebound," and "the market is moving in a positive direction."
Meanwhile, BTC is trading at $93,789.55, down 1.88% from the previous day, as of 06:06 on the 24th, based on the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
