Deep Trend TechFlow News, on September 12, according to Cointelegraph, the latest data from blockchain analysis company Santiment showed that since Bitcoin reached its historical peak of $73,679 on March 13, the number of Bitcoin transactions exceeding $100,000 per week has dropped by 33.6%. In contrast, Ethereum’s large-value transactions dropped more significantly during the same period, reaching 72.5%. Santiment pointed out that the number of weekly transactions for Bitcoin whales (wallets holding at least 10,000 Bitcoins) is currently 29,624 fewer than at the peak in March. Analysts believe this decrease in activity is not necessarily a bearish sign, as whales can remain active in both bull and bear markets.
Some analysts believe that Bitcoin may have further room to fall before reaching the bottom of this cycle. Markus Thielen, head of research at 10x Research, predicted on August 7 that Bitcoin may fall to a low of $40,000, which may be "an ideal entry point for the next bull market." Santiment said that if Bitcoin falls to $45,000, it may trigger panic; but if it returns to around $70,000, it may trigger a large-scale pursuit of gains.
Despite the market volatility, most cryptocurrency traders are not overly concerned about it. Ajeet Khurana, founder of Reflexical, said: "In times of market turmoil, it is easy to lose sight of the big picture. Although Bitcoin prices fluctuate, we must focus on fundamentals, remain rational, and maintain a long-term perspective. True value will stand the test of time." Cryptocurrency analyst Daan Crypto Trades also pointed out: "We have experienced a lot of volatility in recent weeks, but these are all commonplace."
