In the wake of last week’s fall in Bitcoin (BTC) prices, Santiment is evaluating investor behavior.
Data analysis firms have observed a notable difference between the reactions of small-scale holders (identified as Sardines) and large-scale holders (known as Whales) of the digital currency.
According to a report from Santiment, investor behavior is moving in a new direction after the fall in Bitcoin prices. the result, Important differences And the gap between “sardines and whales” is widening.
According to the company’s statistics, since mid-October, large investors (those holding more than 1,000 BTC) have sold about 32,500 BTC (more than $3 billion). the tendency to is maintained Following the Bitcoin crash that occurred after BTC hit a new all-time high.
This situation continues today, and became noticeable after the price fell below 100,000 on November 4th. This behavior of whales is different from the behavior followed by retail investors, which is currently emphasized. For his growing interest in Bitcoin.
Thus, while “major market participants are selling,” smaller investors are “taking advantage of the decline and buying aggressively” (or at least holding on to their Bitcoin).
The cumulative direction is This week we set a historic record. This trend is confirmed. CryptoQuant data refers to Over 375,000 BTC accumulated within 30 days.
Widening inequality is a warning bell
Therefore, we are facing a widening gap between large companies selling and individual investors buying. “This may be a red flag,” the Santimento report warns.
The focus is primarily on Bitcoin whales. As CriptoNoticias explains, competent investors: cause a sudden movement in the market on your purchase or sale.
Analysts are therefore expressing concern. Especially considering that “historically, prices tend to follow the direction of large investors rather than small investors.” In that case, the price is a concern. It will fall below 100,000 USD.. They think it’s very likely that whales will. they keep selling.
However, there are also opposing opinions. Amid this correction, analysts are divided. There is no unanimous agreement on how the price of Bitcoin will behave in the coming weeks.
Therefore, some believe that we have already reached the bottom of the decline and that Bitcoin will fall again. rally Bullish trends that characterized this year, and more They predict a crypto winter. At the end of this edition, BTC is trading around USD 102,000.
