Santiment: Large Bitcoin holders have re-accumulated nearly 5,000 Bitcoins in the past week, and the market performance may improve in the second half of the month
Odaily News According to Santiment analysis, wallets holding more than 10 bitcoins have re-accumulated nearly 5,000 bitcoins since March 3, while retail investors are in a panic.
The data chart shows several key time points: large holders began hoarding at the beginning of the bull market on October 12 last year; hoarding was suspended during the holiday decline on December 26; hoarding resumed on January 12, a week before Trump's inauguration (when Bitcoin hit an all-time high of $109,000); selling began on February 19; and hoarding began again on March 3 when retail sentiment was the most pessimistic.
Santiment said that while prices have yet to respond to big-money buying, if these key stakeholders continue to hoard, the market performance in the second half of March could be better than the "bloodbath" in the seven weeks since Bitcoin hit its all-time high.
