Analysis Company Says Whales Are Very Active in Bitcoin, Shares What They Expect
Cryptocurrency analysis company Santiment shared in its statement what they expect from now on in the Bitcoin price.
Santiment, a leading cryptocurrency analytics firm, has reported a significant increase in BTC whale activity during the recent surge in Bitcoin’s price.
Bitcoin whale transactions hit a more than 10-week high on Tuesday, with 11,697 transfers worth over $100,000, according to the firm’s analysis, and are on track to reach similar highs on Wednesday.
The analysis also highlighted a shift in social media discussions, with Bitcoin dominating discussions on altcoins. Santiment noted that Bitcoin, the largest crypto asset, now accounts for more than a quarter of all cryptocurrency-related conversations on the internet, as investors focus heavily on price action after Bitcoin surpassed $68,000, its highest level since July.
However, Santiment warned that these developments could signal a temporary halt to the rally. The analysis pointed to profit-taking by key asset holders and rising fear of missing out (FOMO) among the crowd as potential reasons for a short-term correction. However, the firm remains optimistic about Bitcoin’s medium- to long-term prospects, suggesting that any price declines are likely to be short-lived.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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