According to the latest data provided by Santiment, Bitcoin whales are currently moving away from the market. In this context, whale activity is falling towards 2024 lows. Unfortunately, it is possible that this is an indicator of impending selling pressure if BTC remains relatively neutral.
Bitcoin’s 100+ BTC whale wallets still continue to hold high levels of coins, with a total of 11.79 million BTC. On the other hand, whale activity fell to the lowest level of 2024. There are currently 15,907 wallets holding at least 100 coins. The increase in this metric reflects a renewed increase in demand among whales. This is likely to directly affect Bitcoin’s performance.
What Does This Move By Bitcoin Whales Mean?
Interestingly, the decline in whale activity is also likely to be seen as a positive sign for the market. When fewer whales are actively trading, the market is likely to experience less volatility. When whales make large transactions, they can significantly impact the market, causing sudden price fluctuations. It is possible that reduced activity among these large holders will lead to a more stable and predictable market environment. But people cryptocurrency That’s not why he trades and holds.
Additionally, low whale activity is likely to indicate that these large owners are satisfied with their current positions. In this context, it is possible that it shows that they do not want to liquidate their assets.
Whales generally have a better understanding of market dynamics and trends. In this context, it is possible that this situation indicates a long-term bullish sentiment. Their decision to hold rather than sell may reflect their confidence in Bitcoin’s future price growth. The recent decline in BTC whale activity to a 2024 low initially seemed alarming. But on the other hand, it also offers some positive implications. Reduced market volatility and long-term holding potential among whales are likely to provide a more stable environment for small investors.
