Leading cryptocurrencyI Bitcoin (BTC) 2022 has been a difficult year for him. Faced with strong selling pressure BTC It fell as low as $15,500.
bitcoin While the interest of investors against the crypto money market, especially the crypto money market, on-chain data provider Santiment evaluated the BTC purchases of whales in 2022.
Stating that whales are losing interest in Bitcoin centimentBitcoin’s $1 million worth of transactions have reached a two-year low and whales have sold their Bitcoin, or BTC He said he showed little interest in hoarding:
According to Santiment, there is a strong link between the fall in the BTC price and the interest of whales in Bitcoin.
Adding a graphic to its share, Santiment used the following statements:
“Bitcoin’s volatile prices have a lot to do with declining whale interest.
This chart shows how closely BTC and $1 million worth of whale transactions are related.
If prices continue to drop and there is an increase in buying, this will be a historically bullish signal.”
In this context, Santiment bitcoin price drop and whales BTC He thinks that the increase in his purchases will be a historical bullish signal.
🐳 #Bitcoin‘s ranging prices have a lot to do with declining whale interest. This chart illustrates how closely $BTC and $1M+ valued whale transactions correlate. If prices continue sliding and a spike occurs, this would be a historically #bullish signal. https://t.co/nDZj3eicRD pic.twitter.com/t7GFIKNpax
— Santiment (@santimentfeed) December 28, 2022
Stating that this situation is not only valid for large whales, Santiment stated that it is also valid for medium-sized whales.
Because the total number of transactions worth more than $100,000 in Bitcoin dropped to 8,040 transactions, which is the new year’s low.
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