Odaily Planet Daily reported that Santiment published an article on X stating that crypto whale trading volume has dropped significantly since mid-August. Specifically, Bitcoin’s number of transfers above $100,000 is down 33.6% since its March/April peak, while Ethereum’s is down 72.5%.

While this may seem like a negative sign, analysts believe it does not necessarily mean the market is bearish. Whales remain active in either bull or bear markets, and this dip could just be them waiting for the perfect moment. 📉

Since Bitcoin reached all-time highs 6 months ago, the market has reacted strongly to mid-sized moves. According to the sentiment model, Bitcoin’s return to $70,000 could trigger massive FOMO, while a drop to $45,000 could lead to severe FUD. 📈

Overall, despite the volatile market sentiment, Bitcoin is still full of potential. 🚀