Santiment: Whales have accumulated 56,227 BTC since mid-December, but retail investors have started taking profits, predicting the current market is a bull trap.
ChainCatcher News, cryptocurrency market research institution Santiment posted on social media that since December 17, whales and large holders owning 10-10,000 bitcoins have accumulated an additional 56,227 BTC. This trend marks a local bottom in the cryptocurrency market.
Although the overall market trend remains relatively flat, the bullish divergence formed by the accumulation behavior of large holders is bound to drive at least a minor breakout in the market. Over the past 24 hours, the market situation has further improved, as retail traders (wallets holding 0.01 BTC) have begun to take profits, expecting the current trend to be a bull trap or a false rebound. Santiment stated that, according to indicators, the market has now entered a bullish zone, and the probability of continued growth in the total cryptocurrency market capitalization is higher than usual. However, caution is still needed, as whales may change their minds at any time and quickly exit to take profits.
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.
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