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Whales dumped approximately 32,500 bitcoins since October.
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The gap between retailers and whales represents “a warning sign,” analysts say.
Amid the impact caused by the drop in the price of bitcoin (BTC) this last week, the data analysis firm Santiment evaluates the behavior of investors. The company observes, in this sense, notable differences between small holders and large holders (known as whales) of the digital currency.
According to the Santiment report, after the fall in the price of bitcoin, there are significant changes in investor behavior. As a result, there are an important divergence between large and small investors.
According to the firm’s statistics, since mid-October large investors (those who own more than 1,000 BTC) have sold around 32,500 BTC (more than $3 billion). A trend that has been maintained following the collapse of bitcoin that occurred after BTC marked a new all-time high.
The situation is still present to date, pronounced after the price drop below 100K that occurred on November 4. This behavior of the whales differs from that followed by retail investors, who now highlight due to his growing interest in bitcoin.
In this way, while “the main market players have been selling”, small investors “have taken advantage of the fall to buy aggressively” (or at least hold their BTC).
The fact that of the directions of accumulation have set a historical record this weekconfirms this trend. CryptoQuant data points to more than 375,000 BTC accumulated in 30 days.
The gap as a warning sign
We are thus faced with a growing gap in which large companies sell while retail investors buy. “Which may be a warning sign,” warns the Santiment report.
Analysts’ attention is mainly placed on bitcoin whales. Those investors who, as NoticiasVE explains, have the ability to cause sudden movements in the market with your purchases or sales.
Hence analysts express their concern. Especially considering that “historically, prices tend to follow the direction of large investors, not small investors.”
Amid this correction, analysts are divided on how the next few weeks will play out for the price of bitcoin. There are those who think that the bottom of the fall has been reached, while others predict the end of the bullish rally that characterized this year. At the close of this edition, BTC is trading around USD 102,000.