Significant Drop in Crypto Whale Transactions Since Mid-August
According to Odaily, Santiment reported a noticeable drop in crypto whale transactions since mid-August. For Bitcoin, the number of transfers over $100,000 has decreased by 33.6% since the peak in March/April. Similarly, Ethereum saw a 72.5% drop in transfers over $100,000 during the same period.
Analysts suggest that this trend is not necessarily a bearish signal. Whales tend to be active in both bull and bear markets. However, it does suggest that major stakeholders are waiting for the right moment to make their move during times of extreme greed or fear among the general public. Since Bitcoin reached an all-time high six months ago, the reaction to the moderate fluctuations has been intense. According to sentiment patterns, a return to $70,000 for Bitcoin could trigger significant FOMO (Fear of Missing Out), while a drop to $45,000 could lead to serious FUD (Fear, Uncertainty, and Doubt) $BTC $ETH $BNB
