According to ChainCatcher, Santiment published a post on X stating that crypto whale transactions have declined significantly since mid-August.
Bitcoin: The number of transfers above $100,000 has fallen 33.6% since the March/April peak;
Ethereum: The number of transfers above $100,000 has fallen 72.5% since the March/April peak.
The analysis said that this is not necessarily a bearish sign. Whales are equally active in bull or bear markets. But it does show that during periods of extreme greed or extreme panic among the masses, large key stakeholders continue to bide their time and wait to make the next move.
Since Bitcoin reached its all-time high six months ago, people have reacted very strongly to medium-sized moves. Based on sentiment patterns, a return to $70,000 would likely be accompanied by a large amount of FOMO, while a drop to $45,000 would likely result in severe FUD.
