🐳 Cryptocurrency's whale transactions have seen a noticeable drop-off since mid-August

🪙 Bitcoin: -33.6% drop in $100K+ transfers since March/April peak

🪙 Ethereum: -72.5% drop in $100K+ transfers since March/April peak

This isn't necessarily a bearish signal. Whales can be equally active during a bull or bear market. But this does indicate that large key stakeholders continue to bide their time as they wait to make their next moves during times of extreme crowd greed or extreme fear.

The crowd has been very reactive to mid-sized swings since BTC's all-time high 6 months ago. Based on sentiment patterns, a return to $70K would likely come with major crowd FOMO, and $45K would likely lead to major FUD.