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Santiment: The "significant divergence" between Bitcoin whales and retail investors is a warning signal.
[Santiment: The “significant divergence” between Bitcoin whales and retail investors is a warning signal] According to Santiment, while Bitcoin whales are dumping Bitcoin, retail investors are buying in large amounts. If history has any lessons to teach, this pattern may indicate that the price of Bitcoin is in trouble. Santiment stated in a market report on Saturday: “Historically, prices tend to follow the movements of Whales rather than retail investors.” Since October 12, Whale wallets holding between 10 and 10,000 Bitcoins have sold approximately 32,500 Bitcoins. However, Santiment added, “Small retail wallets have been actively buying the dips.” Santiment states that this divergence of Bitcoin among different groups is a “warning signal.” According to CoinMarketCap data, during this period, the price of Bitcoin fell from $115,000 to $98,000 on November 4, a decline of about 15%. At the time of this article's publication, the price of Bitcoin has rebounded to $103,780.