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Santiment: Whale Selling + Retail Buying Indicates Market Correction Not Over Yet
Summary: According to Santiment, as Bitcoin fell below $70,000, retail investors bought heavily, but the crypto sentiment platform warns that if historical patterns repeat, whale activity suggests prices could still drop further. Santiment reported on Friday that key stakeholders began profit-taking when Bitcoin hit $74,000. Whales holding 10 to 10,000 Bitcoins accumulated heavily between February 23 ...
According to Santiment, as Bitcoin fell below $70,000, retail investors bought heavily, but the crypto sentiment platform warns that if historical patterns repeat, whale activity suggests prices could still drop further. Santiment reported on Friday that key stakeholders began profit-taking when Bitcoin hit $74,000. Whales holding 10 to 10,000 Bitcoins accumulated heavily between February 23 and March 3, when Bitcoin traded between $62,900 and $69,600. Since Bitcoin broke $70,000 and hit $74,000 on Wednesday, this group has sold about 66% of their recent purchases, while retail investors holding less than 0.01 Bitcoins have been increasing their positions. When retail investors buy while whales sell, it usually indicates the correction is not over yet, according to Santiment.
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Link: Santiment: Whale Selling + Retail Buying Indicates Market Correction Not Over Yet [Copy]
