Bitcoin Sees 33.6% Drop in Whale Transactions Since March Peak
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Bitcoin whale activity has significantly decreased since the cryptocurrency reached its yearly high in March, according to recent data.
In a recent post on X, blockchain analytics platform Santiment revealed that large Bitcoin transactions, typically valued at $100,000 or more, have declined by 33.6% since March 13.
The date coincides with Bitcoin reaching an all-time high of $73,679.
The slowdown in activity from major Bitcoin holders, often referred to as “whales,” is not necessarily a bearish signal, Santiment suggests.
These whales, defined as wallets holding at least 10,000 BTC, are known for their influence on market movements.
They tend to be active in both bull and bear markets, often waiting for periods of extreme market sentiment, such as heightened fear or greed, to make significant moves.
In its report, Santiment noted that the drop in whale activity is mirrored in Ethereum (ETH) as well, with large transactions of $100,000 or more plunging by 72.5% since mid-March.
Despite these declines, Santiment emphasized that such trends do not automatically signal a downturn.
Instead, it could indicate that these large stakeholders are positioning themselves for future opportunities as they monitor market sentiment closely.
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