Santiment Foods Exploits Disinterest in Whales as Reason for Bitcoin Price Changes.
Sentiment has received waning interest from whales as a reason for Bitcoin price volatility, according to a tweet from the crypto research platform today. Remember that The Crypto Basic yesterday reported the research of Ali Martinez which showed that investors are not interested in Bitcoin at the current price.
Clearly, the researcher pointed out that the whale and the adjacent company, showing a business of more than $ 100,000 in annual reduction. Today, Santiment reiterated this decline in whaling activity, pointing to a strong correlation between whale trade worth more than $1 million and the price of Bitcoin.
The platform of crypto-analytics says that it will be more if the price continues to fall and these markets increase. “Bitcoin’s fluctuating price has a lot to do with declining interest in whales,” Santiment wrote. “This chart shows how the whale trade connected the price of BTC to more than $1 million. If the price continues to fall and the peak occurs, that will be a signal signal in history. »
Interestingly, unlike the previous bear market cycle, the wallets rallied sharply. A chart shared 3 days ago by BigMak (@Mn2Big) shows that addresses holding between 0 and 1K BTC account for 60.68% of the total Bitcoin at the current discount. Remember that Bitcoin addresses holding less than 1 BTC have added at least 96,000 BTC since the collapse of FTX.
It is worth mentioning that Bitcoin has been trading around the $16,800 price range since Christmas before falling below $16,700 yesterday. It is currently trading at a price of $16,661.11, down 1.29% in the last 24 hours.