Cryptocurrency analysis company Santiment shared its latest views in its latest analysis following the decline in Bitcoin prices that lasted up to $94,000.
Following the recent decline, whales and smaller shark investors suggest there is no need to panic, according to the analytics firm.
In November alone, major cryptocurrency investors who own at least 10 Bitcoins have amassed a total of 63,922 BTC, equivalent to a whopping $6.06 billion in dollar terms, Santiment said.
Analysts argued that if these major cryptocurrency investors continue to keep BTC moves in the buying direction, the bullish sentiment remains strong and the declines may be short-lived.
Today, MicroStrategy actually announced a large amount of BTC purchase, and the decline in BTC after this purchase was described as a surprise by some analysts.
Whether the BTC price will exceed $100,000 by the end of 2024 is still a development that is eagerly awaited. Polymarket odds show a 48% chance of the Bitcoin price reaching $90,000 first and a 52% chance of reaching $100,000.
*This is not investment advice.
