Bitcoin whales added $3,405,790,900 as the price fell below $43,500, according to leading crypto analytics firm Santiment. The firm also says that its indicators are pointing to the rise in 3 altcoin projects. Here are the details…
Whales enjoying bottom price Bitcoin (BTC)
According to Santiment, “Bitcoin recovered to $50,100 on Monday and whale wallets plunged into perfection.” But the data also shows that whales are selling at bottom prices:
During the drop to $43,500, addresses holding 100 to 10,000 Bitcoins accumulated another 67,000 BTC after draining the same amount before the price drop.
Despite volatility, BTC continues to outperform
Despite the recent market fluctuations, Santiment reported on its Twitter account that BTC is still on a massive rise compared to two years ago and has vastly outperformed other markets over the same period. The on-chain watcher shared:
Bitcoin is back at $48.2k and its price is still +563% compared to two years ago ($7.4k). This chart shows BTC’s progress compared to SP500 (+44%) and gold (+22%), showing the highs and lows of each sector over this time frame.
- Santiment SP500 shares the following chart for gold and Bitcoin:
Here are 3 altcoin projects that Santiment expects to rise
cryptocoin.com Santiment, whose data we shared as , says that the indicators show that Bitcoin and a few other cryptos such as XRP, Shiba Inu (SHIB) and Litecoin (LTC) still have more room to grow:
Our ‘Strong and Oversold’ scan shows that some cryptocurrencies are showing signs of having subdued prices compared to their fundamental values. Our requirements for this listing include high market cap, volume, and address activity.
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