{"id":51627,"date":"2024-09-13T01:43:00","date_gmt":"2024-09-13T01:43:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-whale-transactions-decline-march-all-time-high-santiment"},"modified":"2024-09-13T04:05:17","modified_gmt":"2024-09-13T04:05:17","slug":"bitcoin-whale-transactions-see-noticeable-drop-since-march-price-peak","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51627","title":{"rendered":"Bitcoin whale transactions see \u2018noticeable\u2019 drop since March price peak"},"content":{"rendered":"

Bitcoin whales have dialed back their activity since the cryptocurrency hit a new high in March and are now biding their time for the next major buying or selling opportunity, recent data suggests.<\/p>\n

\u201cCryptocurrency\u2019s whale transactions have seen a noticeable drop-off since mid-August,\u201d blockchain analytics platform Santiment wrote in a Sept. 11 X post.<\/p>\n

Bitcoin whales cut back on activity<\/h2>\n

Santiment noted that Bitcoin (BTC) weekly transactions of $100,000 or more had dropped 33.6% since March 13 \u2014 the day of Bitcoin\u2019s $73,679 all-time high.<\/p>\n

It added Ether (ETH) saw an even more significant decline of 72.5% over the same period.<\/p>\n

\"\"
Bitcoin whales are now making 29,624 less transactions per week than they were in the March peak. Source: Santiment<\/em><\/figcaption><\/figure>\n

The analytics firm highlighted that this isn\u2019t necessarily a bearish sign, as whales \u2014 wallets holding at least 10,000 BTC \u2014 can be just as active in both bull and bear markets.<\/p>\n

It added that \u201clarge key stakeholders continue to bide their time as they wait to make their next moves during times of extreme crowd greed or fear.\u201d<\/p>\n

The overall sentiment in the crypto market remains at \u201cfear,\u201d according to the Crypto Fear & Greed Index, which currently has a score of 31 out of a total possible of 100.<\/p>\n

Investors typically see fear in the market as an opportunity to buy. While Bitcoin has been down 0.97% since Aug. 13, trading at $58,360, some analysts believe that the asset has more downside before reaching its cycle bottom.<\/p>\n

\"\"
Bitcoin is down 0.97% over the past 30 days. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n

On Aug. 7, 10x Research head of Research Markus Thielen said\u00a0 that Bitcoin should fall to the \u201clow 40,000s\u201d to ideally time the \u201cnext bull market entry.\u201d<\/p>\n

Santiment said if Bitcoin plunges down to $45,000, it could trigger fear, uncertainty, and doubt (FUD) but might trigger a major fear of missing out (FOMO) if it climbed back to around $70,000.<\/p>\n

Crypto traders not concerned about market volatility<\/h2>\n

Meanwhile, crypto traders expect the current market volatility to be short-term and nothing they haven\u2019t seen before.<\/p>\n

Reflexical founder Ajeet Khurana explained in a Sept. 11 X post, \u201cIn times of market turbulence, it\u2019s easy to lose sight of the bigger picture.\u201d<\/p>\n

Related: <\/strong><\/em>Australian crypto investors \u2018sitting on the sidelines\u2019 for clearer laws: Swyftx CEO<\/strong><\/em><\/p>\n

\u201cBitcoin price is volatile, but focus on fundamentals, stay grounded in common sense, and keep a long-term vision. True value stands the test of time,\u201d Khurana stated.<\/p>\n

\u201cQuite a lot of volatility but nothing we\u2019re not used to the past few weeks,\u201d pseudonymous crypto trader Daan Crypto Trades added.<\/p>\n

Magazine: <\/strong><\/em>Bitcoin will \u2018start ripping\u2019 as Trump\u2019s polls improve: Felix Hartmann, X Hall of Flame<\/strong><\/em><\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin whales have dialed back their activity since the cryptocurrency hit a new high in March and are now biding their time for the next major buying or selling opportunity, recent data suggests. \u201cCryptocurrency\u2019s whale … Bitcoin whale transactions see \u2018noticeable\u2019 drop since March price peak<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51628,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,7006,7007,3812,5652,10,159,97],"class_list":["post-51627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-btcwhales","tag-crypto-scams-alerts","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nBitcoin whale transactions see \u2018noticeable\u2019 drop since March price peak - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51627\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin whale transactions see \u2018noticeable\u2019 drop since March price peak - 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