BlockBeats news, on September 12, crypto market analysis agency Santiment reported that cryptocurrency whale trading activity has dropped significantly since mid-August. Bitcoin and Ethereum transfers above $100,000 fell by 33.6% and 72.5% respectively.

Santiment emphasized that this is not necessarily a bearish signal. Whales are equally active during bull or bear markets, and the current wait-and-see attitude may mean they are waiting for more favorable market timing.

Since BTC hit all-time highs, the crowd has been very sensitive to medium-sized moves. Sentiment patterns suggest that a BTC rally back to $70,000 could trigger FOMO, while a drop to $45,000 could lead to FUD.