Santiment: Bitcoin "whales" continue accumulating during the market downturn
BlockBeats News, January 21, crypto market analysis platform Santiment released data on social media stating that the price of bitcoin has fallen back to $89,400, while gold and silver continue to surge. Nevertheless, bitcoin "whales" and "sharks" are still accumulating.
"Whale" addresses holding 10 to 10,000 BTC: increased holdings by 36,322 BTC (+0.27%) over the past 9 days
"Shrimp" addresses holding less than 0.01 BTC: reduced holdings by 132 BTC (-0.28%) over the past 9 days
Santiment stated that the best timing for crypto asset breakouts often occurs when "smart money" is accumulating while retail investors are selling. Setting aside geopolitical factors, this capital flow pattern is continuing to build a long-term bullish technical divergence.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hedera Integrates Chainlink to Unlock Real-World Data and Cross-Chain Connectivity
Bitcoin falls below $69,000 as U.S. February unemployment increases by 92,000
Trending news
MoreAccording to the latest filing disclosed by the U.S. Securities and Exchange Commission (SEC), InMed Pharmaceuticals Inc (INM) officially confirmed and passed a resolution on March 4 to gradually terminate the commercial operations of its Baymedica division.
Hedera Integrates Chainlink to Unlock Real-World Data and Cross-Chain Connectivity
Crypto prices
More
