Post-Rise Phantom (FTM) Alert in Bitcoin Has Arrived! Are Whales Unloading Goods?

February 14 with Valentine’s Day Nasdaq and US stock markets bitcoin And in altcoins We’ve seen good ups and downs.

Evaluating recent rises centiment drew attention to some data.

in bitcoin Stating that for an absolute bull run, the correlation with the US stock markets should deteriorate, analysts stated that the correlation still continues, but investors have an expectation that this correlation will be broken.

According to Santiment, the projects that showed the strongest returns with the recent rise in Bitcoin were Immutable X, The Graph and Fantom.

Beware of the Phantom (FTM)

However, the Phantom warning from Santimen drew attention. Stating that the whales emptied a large amount of FTM during the last rise, Santiment used the following statements:

“Phantom shark and whale address numbers have dropped drastically during the 2023 spike. Addresses holding 10 thousand to 100 million FTMs have emptied $259.7 million worth of cryptocurrencies in the last 4 weeks. These tokens are largely pooled by microaddresses holding 0.01 to 1 FTM.

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Phantom is trading at $0.5757 as of our news hour.

FetchAI

Analysts, who also looked at FET, an artificial intelligence-oriented crypto money project, drew attention to a big transaction that took place on February 14. Accordingly, on February 14, 125 million FETs (worth $61 million) were also moved to a whale address holding 224 million Ethereum. This move was the largest FET has seen in the last 567 days.

It is not possible to interpret this data positively or negatively without more details.

*Not Investment Advice.