Key takeaways:
Large Bitcoin holders have accumulated 81,338 BTC over the past six weeks, showing confidence in a future price uptrend.
Wallets with less than 0.1 BTC sold around 290 BTC, indicating smaller retail investors are either panic selling or selling out of boredom.
Spot Bitcoin ETFs have seen $4.41 billion in inflows since March 26.
While larger Bitcoin holders remain confident and continue accumulating the asset, data from a crypto analytics platform shows that smaller retail investors have been shedding BTC amid the asset’s prolonged consolidation below the $100,000 price level.
The contrasting behavior between Bitcoin (BTC) whales and retail investors often signals that Bitcoin may be heading toward another upward trend, Santiment said in a May 6 X post.
Bitcoin smaller players show cold feet
“When large wallets gradually accumulate in tandem with retail panic selling/selling out of boredom, it is generally a strong long-term