Bitcoin Whales Are Starting To Accumulate Again at $71K: Santiment
Bitcoin whales are increasing their holdings around $71,000, signaling a potential bullish reversal, according to Santiment.Summary
According to crypto sentiment platform Santiment, large Bitcoin wallets are once again accumulating BTC as the price stabilizes around $71,000. This shift to accumulation is considered a bullish signal, particularly from wallets holding between 10 and 10,000 Bitcoin, which now control 68.17% of the total supply. Santiment suggests a potential local bottom could form if whale accumulation continues while retail investor holdings decline, indicating a transfer of coins from weaker to stronger hands. Despite this, the Crypto Fear & Greed Index remains in “Extreme Fear,” and analysts like Willy Woo suggest Bitcoin is currently in the middle of its bear market. However, US spot Bitcoin ETFs have seen a recent five-day inflow streak, bringing in approximately $767.32 million this week.
(Source：Cointelegraph)