According to COINOTAG News from February 6th, the crypto market research firm Santiment has disclosed noteworthy trends amidst the prevailing market volatility. The data indicates a significant uptick in accumulation activity by Bitcoin whales, with the number of wallets housing **100+ BTC** rising by 135. Conversely, there has been a dramatic reduction in smaller wallets, with **138,680** wallets containing less than **100 BTC** disappearing from the landscape. This trend highlights the propensity of small retail investors, particularly those who have recently entered the market, to liquidate their holdings amid price fluctuations. Santiment emphasizes that while the concentration of Bitcoin assets among larger holders may foster an environment conducive to increases in cryptocurrency market cap, the tangible effects of this reallocation could require several weeks or even months to manifest.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024