After a sharp 10% drop from $65,000 earlier this week, the assets of large investors have started to show new activity, indicating the return of Bitcoin whales.
Return of Large Investors
According to data from Santiment, the number of wallets holding more than 100 BTC has reached its highest level in the last 17 months. This indicates increasing activity from large investors despite recent market volatility.
Market Analysis by Santiment
The Santiment report shows that Bitcoin accumulation continues, despite market disappointments over the previous month. The number of wallets containing 100 or more Bitcoins has increased by 283 in the last month, bringing the total to 16,120. This is the most significant increase in the number of such investors in the last 17 months.
Macroeconomic Factors and Crypto Options
Professional traders use cryptocurrency options to maximize profits and minimize risks. Investors anticipate that risk markets, including Bitcoin, might see substantial gains in the event of a decrease in interest rates by the Federal Reserve (Fed).
Positive macroeconomic prospects for risk markets may be partly overshadowed by internal concerns within the crypto industry. Many believe that Bitcoin’s lackluster performance is related to a lack of support for the sector from presidential candidate Kamala Harris.
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