Big Bitcoin Buys Amidst Market Panic

Whale and shark investors (those holding significant amounts of Bitcoin) have quietly scooped up a whopping $381 million worth of Bitcoin in just six days. This buying spree happened during a recent period of panic selling by smaller investors.

Whale Activity

According to data analytics firm Santiment, these large Bitcoin holders added 4,486 BTC to their wallets since March 3rd. This follows a brief period where they actually sold off some of their holdings. Santiment suggests that this earlier selling contributed to the recent market downturn.

What Does This Mean for Bitcoin’s Future?

Santiment isn’t sure what the whale and shark buying means for the immediate future of Bitcoin’s price. However, they suggest that the second half of March could see a significant price rebound if
these large investors continue to buy.

Social Sentiment and Price Predictions

Santiment also points out that cryptocurrency markets often move against
what most people expect. Right now, social media is awash with fear and predictions of lower Bitcoin prices (under $70,000). Santiment believes that the true “bottom” of the market – the best time to buy – will be when social media is overwhelmingly negative, with little to no talk of higher prices (above $100,000).

Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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