Here's who has been buying and who has been selling throughout BTC's most recent retracement.
Bitcoin’s price movements since early October can safely be categorized as bearish, given the fact that the asset shed over 50% of its value from its all-time high to its multi-year low of $60,000 marked on February 6.
Although it has recovered some ground since then, the cryptocurrency is deep in the red even on a year-to-date scale. Santiment investigated which investor group sold off during the months-long correction, and which increased their positions.an interesting pattern. It reads that wallets holding between 10 and 10,000 bitcoins have reduced their positions by 0.8% since the October peak. In contrast, micro investors, those with 0.1 BTC or less, have increased their holdings by 2.5% within the same timeframe.“Optimally, we begin to see these two Bitcoin groups begin to reverse course. Without key stakeholder support, any spark of a rally will tend to be slightly limited due to the lack of large capital,” Santiment said, before indicating that retail investors have remained undeterred, currently holding the highest amount in nearly two years.Unlike the small discrepancy between the two investor groups examined by Santiment, those who gain exposure to the largest cryptocurrency through ETFs have shown a clear and painful trend. In the two weeks leading to the asset’s all-time high of over $126,000, they poured in over $6 billion into the funds. Since then, red has dominated almost every week, with multiple $1 billion or more net outflow examples. In three consecutive weeks in early November, they withdrew more than $3.5 billion. This behavior continued into the new year, and theData from SoSoValue shows that these investors pulled out $1.33 billion during the week that ended on January 23. Another $1.49 billion followed, but the silver lining is that the net inflows have decreased to under $360 million in the past three weeks. Nevertheless, the total net inflows into the spot BTC ETFs have declined from $62.77 billion in early October to $54 billion last Friday.Trump Signs New 10% Global Tariff Despite Supreme Court Defeat: Will BTC Crash Again?Use this link Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.Inside Vitalik Buterin’s Wallet: How Much Ethereum Does He Actually Own?
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin bounces, but $72,000 remains key price level to breaking downtrend: Crypto Markets TodayBitcoin rebounds toward $68,000 as ETF outflows hit $6.8 billion and funding flips positive, but a break above $72,000 is needed to confirm a bullish shift.
Read more »
Strategy Not at Risk of Liquidation as Average Bitcoin Price Falls 10%: ArkhamArkham uncovers the correlation between the Bitcoin price and Strategy's funding options to estimate its liquidation potential.
Read more »
Bitcoin price news: BTC gains, but quickly retreats as Trump tariffs ruled illegal by Supreme CourtHotter inflation and slower growth delivers a messy message with the Federal Reserve likely take its time before any policy changes, one analyst said.
Read more »
$2 Billion in Bitcoin Scooped up by Whales Despite Price DipBitcoin whales are not entirely backing down amid the prolonged market volatility as they have scooped up over 30,000 BTC in the last week.
Read more »
Bitcoin Price Reacts as US Supreme Court Strikes Down Trump TariffsThe POTUS also weighed in on the Supreme Court's decision, calling it a 'disgrace.'
Read more »
Bitcoin $150K price calls are ‘drying up,’ which is healthy: SantimentThe most recent news about crypto industry at Cointelegraph. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more
Read more »