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Santiment: Large holders have re-accumulated nearly 5,000 bitcoins in the past week, and the market performance may improve in the second half of the month.
On March 10, according to Santiment analysis, wallets holding more than 10 bitcoins have experienced several key turning points in the past 6 months. The slight sell-off from mid-February to early March exacerbated the recent decline in the crypto market, but since March 3, these large wallets have re-accumulated nearly 5,000 bitcoins, while retail investors are panicking. The data chart shows several key time points: large holders began to hoard at the beginning of the bull market on October 12 last year; hoarding was suspended during the holiday decline on December 26; hoarding resumed on January 12, a week before Trump's inauguration (when Bitcoin hit a record high of $109,000); selling began on February 19; hoarding began again on March 3 when retail investors were most pessimistic. Santiment said that while prices have yet to respond to large-cap buying, if these key stakeholders continue to hoard, the market performance in the second half of March may be better than the "bloodbath" in the seven weeks after Bitcoin hit its all-time high.
