Source: Cointelegraph.com NewsKey takeaways:<\/p>\n
Large Bitcoin holders have accumulated 81,338 BTC over the past six weeks, showing confidence in a future price uptrend.
\nWallets with less than 0.1 BTC sold around 290 BTC, indicating smaller retail investors are either panic selling or selling out of boredom.\u00a0
\nSpot Bitcoin ETFs have seen $4.41 billion in inflows since March 26.<\/p>\n
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\u2019s prolonged consolidation below the $100,000 price level. Source: Cointelegraph.com NewsKey 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… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128737"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128737"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128737\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128737"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThe 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.\u00a0
\nBitcoin smaller players show cold feet
\n\u201cWhen large wallets gradually accumulate in tandem with retail panic selling\/selling out of boredom, it is generally a strong long-term sign of prices biding their time before another breakout,\u201d Santiment said.
\nBitcoin wallet holders with between 10 and 10,000 BTC have accumulated a combined 81,338 BTC over the past six weeks since March 26.
\nThis represents a 0.61% increase in the cohort\u2019s total holdings. Santiment said this could signal a potential retest of the psychological $100,000 price level in the near future. \u201cAs May progresses, Bitcoin\u2019s key stakeholders are mostly moving in the right direction if you\u2019re rooting for $100K BTC in the near future,\u201d Santiment said.
\nHowever, Bitcoin wallets with less than 0.1 BTC sold off approximately 290 Bitcoin over the same period. Since March 26, Bitcoin has traded between $76,273 and $97,210, according to CoinMarketCap data.
\nBitcoin is trading at $96,360 at the time of publication. Source: CoinMarketCapBitcoin fell below $100,000 on Feb. 1 after US President Donald Trump announced his tariffs and has yet to reclaim that price level. At the time of publication, Bitcoin is trading at $96,360.
\nMeanwhile, spot Bitcoin ETF holders have accumulated over the same period, with US-based spot Bitcoin ETFs totaling $4.41 billion in inflows since March 26, according to Farside data.\u00a0
\nBitcoin dominance continues to soar
\nThe overall crypto market is still concentrated around Bitcoin. Bitcoin dominance reached 65% on May 6, the highest reading since January 2021, according to TradingView data.\u00a0
\nRelated: Watch these Bitcoin price levels as BTC meets \u2018decision point\u2019
\nAt the time of publication, the metric is 65.19%. Meanwhile, CoinMarketCap\u2019s altcoin season index still reads \u201cBitcoin Season,\u201d indicating the market is favoring Bitcoin over altcoins.
\nWhile several analysts have been eyeing new all-time highs by the end of June, Bitfinex analysts recently said that Bitcoin needs to continue to hold above the $95,000 level to climb back and retest its all-time high or face an even deeper correction.
\nMagazine: 12 minutes of nail-biting tension when Ethereum\u2019s Pectra fork goes live
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"