Cryptocurrency analytics firm Santiment has studied the behavior of crypto whale and smaller-scale shark investors following the significant decline in Bitcoin.
Whales Started Buying Bitcoin on March 3, According to Santiment
According to analysts, Bitcoin whale and shark wallets have experienced a variety of turning points over the past 6 months. In short, major cryptocurrency wallets experienced a mild sell-off between mid-February and early March.
However, since March 3, large investors who hold more than 10 BTC in their wallets have accumulated almost more than 5,000 BTC of Bitcoin.
According to Santiment analysts, although prices have not yet responded to this level of buying, a better picture is possible in the second half of March, according to the collapse observed in the markets since the Bitcoin price reached its all-time high price level 7 weeks ago.
However, analysts warned that this scenario could play out if big whales continue to buy.
*This is not investment advice.
