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On Oct. 17, om-chain analytics platform Santiment reported that Bitcoin whale transactions have spiked to their highest level in over ten weeks.
The platform also noted that social media content has “veered heavily toward BTC over altcoins,” making up over a quarter of all discussions.Santiment concluded that these two signals are signs that “the rally may be on hold due to key stakeholder profit taking and high crowd FOMO.” Long-term metrics are looking bullish so any pullback is likely to be short, it added.
“I think it is more likely to overshoot 60% than not make it there,” he added, referring to altcoin/BTC pairs remaining weak.of $68,250 on Oct. 16 propelling its weekly gains to 11%. It retreated to trade at $67,400 during the Thursday morning Asian session, but momentum remains.
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