#BTCPrediction#TradeStories #PectraUpgrade $BTC
Santiment says that major stakeholders in Bitcoin "are mostly moving in the right direction if you encourage" reaching $100,000 for Bitcoin.
Key points:
Large Bitcoin holders have accumulated 81,338 BTC over the past six weeks, demonstrating confidence in a future upward price trend.
Wallets containing less than 0.1 BTC have sold approximately 290 BTC, indicating that smaller individual investors are either selling out of panic or selling due to boredom.
Bitcoin exchange-traded funds (ETFs) have seen inflows of $4.41 billion since March 26.
While larger Bitcoin holders remain confident and continue to accumulate assets, data from the cryptocurrency analytics platform shows that smaller individual investors have been abandoning Bitcoin amid prolonged asset consolidation below the $100,000 price level.
Contradictory behavior among Bitcoin.
Bitcoin
$96,916
Santiment stated in a post on May 6 that whales and individual investors often indicate that Bitcoin may be heading towards another upward trend.
Smaller Bitcoin players show their fear.
Santiment stated: "When large wallets gradually accumulate alongside panic selling/selling due to boredom, it generally indicates a strong long-term sign that prices are waiting for the right moment before another breakout."
Holders of Bitcoin wallets containing between 10 to 10,000 BTC have accumulated a total of 81,338 BTC over the past six weeks since March 26.
This represents a 0.61% increase in the total holdings of the group. Santiment stated that this could indicate a potential retest of the psychological price level of $100,000 in the near future. It added: "As May progresses, most major Bitcoin stakeholders are heading in the right direction if you're looking for Bitcoin's price to reach $100,000 in the near future."
However, wallets with less than 0.1 Bitcoin sold approximately 290 Bitcoin during the same period. Since March 26, Bitcoin's trading price has ranged between $76,273 and $97,210, according to CoinMarketCap data.
Cryptocurrencies, Bitcoin price, markets.
The price of Bitcoin traded at $96,360 at the time of publication. Source: CoinMarketCap.
The price of Bitcoin fell below $100,000 on February 1 after U.S. President Donald Trump announced his tariffs, and this price has not yet recovered. At the time of publication, Bitcoin was trading at $96,360.
Meanwhile, Bitcoin ETF holders accumulated during the same period, with total inflows into Bitcoin ETFs in the U.S. reaching $4.41 billion since March 26, according to Farside data.
Bitcoin dominance continues to rise.
The cryptocurrency market remains centered around Bitcoin. Bitcoin's dominance reached 65% on May 6, the highest level since January 2021, according to TradingView data.
Related: Watch these Bitcoin price levels as BTC reaches a 'decision point'.
At the time of publication, the ratio was 65.19%. Meanwhile, the Altcoin Season Index on CoinMarketCap still indicates a "Bitcoin season," suggesting that the market prefers Bitcoin over altcoins.
While many analysts were looking to achieve new record levels by the end of June, Bitfinex analysts recently stated that Bitcoin needs to continue staying above the $95,000 level to rise again and retest its all-time high or face a deeper correction.
