According to Santiment, Bitcoin (BTC) whales are enjoying the recent dips as a perfect entry for them.
Furthermore, recent data by Santiment Reveals that Bitcoin whales acquires $3,405,790,900 worth of BTC in the last dip.
“Bitcoin has recovered back to $50.1k Monday, and whale traders played the dip to perfection.”
So, Santiment adds.
But, the data also reveals them selling the same amount before the dump.
“Beginning during the dump to $43.5k, addresses holding 100 to 10k BTC…”
“have accumulated 67k more BTC after dumping the same amount before the price drop.”
Then, Santiment continues.
Currently, BTC is at $59,793, indicating around 17% increase from $43,500.
More so, As per Santiment, the recent market volatility is not stopping Bitcoin from having it’s record of outperforming other asset classes over 2yrs ago.
“Bitcoin is back at $48.2k, and its price is still +563% compared to where it was two years ago ($7.4k).”
“This chart shows the progress of BTC, compared to the SP500…”
“(+44%) & gold (+22%), indicating each sector’s highs and lows over this timeframe.”
Additionally, Santiment explains there are pointers showing Bitcoin. Of course, and a few other cryptos such as XRP, Shiba Inu (SHIB) and Litecoin (LTC) still have space for growth.
“Our ‘Strong and Oversold’ screener indicates some assets are showing signs…”
“of having suppressed prices compared to their fundamentals.”
Lastly, Santiment concludes.
“Our requirements for this list include high market cap, volume, and address activity.”
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