According to Santiment, as Bitcoin falls below $90,000, the weekly trading volume of Bitcoin whale activity may reach a new high this year.
Santiment noted in a post on the X platform on Wednesday that the increase in whale activity coincides with the decline in cryptocurrency prices.
This week, Bitcoin has fallen below $90,000 for the first time in seven months. Santiment reported that over 102,000 whale transactions greater than $100,000 have been tracked, along with an additional 29,000 transactions exceeding $1 million.
Some analysts speculate that whale sell-offs are partly responsible for the correction in the crypto market.
However, data from the analysis platform Glassnode indicates that large holders have been accumulating since the end of October, especially since last Friday, when the number of whale wallets holding over 1,000 Bitcoins significantly increased.
In an interview with Cointelegraph, Pav Hundal, chief analyst at the crypto trading platform Swyftx, stated that he believes the news cycle has driven the surge in whale activity over the past year, with many short-term trades related to geopolitical events in the U.S.
"After Nvidia's strong earnings report, Bitcoin rebounded, which indicates to me that both whales and retail investors are getting involved and buying," he said, adding, "In Swyftx's order book, the buy-sell ratio reached a historical high in early trading, with a buy-to-sell ratio of 10:1, compared to an average of 3:1. Investors are buying the dip."
Bradley Duke, managing director for Europe at Bitwise Asset Management, stated in a post on X on Wednesday that his company has noticed that as fear and panic grip the market, whales are buying the dip.
"Despite many investors being affected by fear and panic, the number of Bitcoin whales has surged recently. Large holders are staying calm and buying at a discount from panic sellers. Stay strong," he added.
According to Tushar Jain, co-founder and managing partner of investment firm Multicoin Capital, in a post on X on Wednesday, he observed a certain pattern in the sell-off and believes this situation will end soon.
Tom Lee, chairman of BitMine, and Matt Hougan, chief investment officer of Bitwise Asset Management, predicted on Monday that Bitcoin could bottom out and rebound as early as this week.
Related: How Square's new Bitcoin (BTC) payments are changing the way merchants accept funds online
Original article: “Analysts: Bitcoin (BTC) whale activity is expected to have the most active week this year”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
