According to Santiment's analysis, wallets holding more than 10 bitcoins have experienced several key turning points in the past six months, with a slight sell-off from mid-February to early March exacerbating the crypto market's recent decline. However, since March 3, these large wallets have re-stocked nearly 5,000 bitcoins, while retail investors are panicking.
The data chart shows several key points in time: large holders started hoarding at the beginning of the bull market on October 12 last year; hoarding was suspended during the holiday drop on December 26; hoarding resumed on January 12, the week before Trump's inauguration (when Bitcoin hit a record high of $109,000); selling began on February 19; and hoarding again on March 3, when retail sentiment was at its most pessimistic.
Mr. Santiment said that while prices had not yet reacted to big-ticket buying, if these key stakeholders continued to hoard, the market could perform better in the second half of March than the seven-week "bloodbath" that followed bitcoin's record high.
Santiment: Large holders have re-accumulated nearly 5,000 bitcoins in the past week, and the market performance may improve in the second half of the month
2025-03-10 06:46:52
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