FameEX Hot Topics | Bitcoin Whale Transactions Experience ‘Significant’ Decline Since March Price Peak

Blockchain analytics firm Santiment reports that the recent decline in Bitcoin whale activity is not necessarily a bearish indicator. While whale transactions have slowed since Bitcoin hit its peak in March, these large holders are likely waiting for the next significant buying or selling opportunity, according to recent data.

In a post on September 11, Santiment noted that cryptocurrency whale transactions have significantly decreased since mid-August. Specifically, Bitcoin transactions of $100,000 or more have dropped 33.6% since March 13, the day Bitcoin reached its all-time high of $73,679. Ether transactions have seen an even steeper decline of 72.5% during the same period.

Despite this drop, Santiment emphasized that the slowdown in whale activity doesn’t imply a bearish outlook. Whales—wallets holding at least 10,000 BTC—remain active in both bull and bear markets. According to Santiment, large stakeholders are simply “biding their time,” waiting for moments of extreme market sentiment, whether driven by greed or fear, before making their next moves.

Current market sentiment is classified as “fear,” with the Crypto Fear & Greed Index showing a score of 31 out of 100. Historically, fear in the market is seen as a buying opportunity by investors. Although Bitcoin has fallen by 0.97% since August 13, trading at $58,360, some analysts believe the cryptocurrency could see further declines before reaching its cycle bottom.

On August 7, Markus Thielen, head of research at 10x Research, predicted that Bitcoin might drop to the “low 40,000s” as an ideal entry point for the next bull market. Santiment added that if Bitcoin drops to $45,000, it could trigger fear, uncertainty, and doubt (FUD), but if the price rebounds to around $70,000, it may spark fear of missing out (FOMO).

Despite the recent volatility, crypto traders expect the current market swings to be short-term and view the fluctuations as part of a familiar pattern in the cryptocurrency space.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.