On June 24, according to Santiment statistics, the total number of Bitcoin whale transactions (US$100,000 or more) was 9,923 in the past two days, a 42% decrease from the 17,091 transactions recorded in the previous two days. The change in whale behavior occurred when the price of Bitcoin fell from US$64,685 to US$63,422, and then fell further to US$62,393 at the time of publication. In addition, CryptoQuant CEO Ki Young Ju said that whale traders who bet on the future price of Bitcoin have also retreated. Whale traders on derivatives exchanges are in risk-averse mode, a term used to describe bearish changes in market sentiment.