Cryptocurrency Whale Trading Sees Significant Decline: A Shift in Market Sentiment?

[뉴욕 = 장도선 특파원] Cryptocurrency whale trading has decreased significantly since mid-August, sparking analysis that this may be a process in which large investors seek direction before making a full-scale move.

Cryptocurrency analytics firm Santiment recently reported that large cryptocurrency transactions have dropped significantly over the past month. Since mid-August, Bitcoin transactions worth over $100,000 have fallen 33.6% from their March/April highs, while Ethereum transactions have fallen 72.5% over the same period.

However, Santiment interprets this phenomenon as not necessarily a bearish signal for the market. Whales can be active in both bull and bear markets. The recent slowdown in the movement of large cryptocurrency investors indicates that they are currently waiting and watching to move in the event of extreme popular greed or extreme fear in the future, Santiment analyzes.

The general public has been very sensitive to even moderate price movements since Bitcoin hit its all-time high six months ago. Based on market sentiment patterns, Santiment predicts that if Bitcoin returns to $70,000, there will likely be a large FOMO (fear of missing out). Conversely, if Bitcoin falls to $45,000, there will be a large FUD (fear and uncertainty).

For more information on cryptocurrency market trends and analysis, visit our website.