Amid the recent sharp drop in the cryptocurrency market in recent days, whales Bitcoin (BTC) continue to bet on the largest crypto asset and are not giving up their holdings, according to an analysis shared by the Santiment platform.
O cryptocurrency market experienced a crash accentuated amid geopolitical tensions in the Middle East over the weekend. The largest cryptocurrency on the market experienced a sharp drop, reaching a price of US$60.800.
“Bitcoin’s key stakeholders are not relenting on their holdings despite worrying volatility that saw the market cap cryptocurrency’s market value reach $61,5 over the weekend,” he wrote.
Santiment also highlighted that, with the FUD circulating among traders as markets approach the Bitcoin halving, set to take place on Friday, April 19, is how the following notable groups of whales have behaved since March 1:
100-1K $BTC wallets: 43.489 coins ($2,75B USD) accumulated;
1K-10K $BTC wallets: 80.544 coins ($5,10 billion) accumulated;
Wallets of 10 to 100 $BTC: 91.732 coins ($5,80 billion) accumulated.
???? # Bitcoin key stakeholders aren't budging on their holdings, despite the worrying volatility that brought the top market cap # cryptocurrency's market value as low as $61.5K over the weekend.
With #FUD circulating among traders as markets close in on the April 19th #halving,… pic.twitter.com/TYmvQA6WBc
- Santiment (@santimentfeed) April 15, 2024
Bitcoin price falling as halving approaches
Market-leading cryptocurrency Bitcoin (BTC) fell nearly 6% in the last day, experiencing a weekly pullback of more than 11% as the halving event scheduled for next Friday the 19th April is approaching.
Renowned cryptocurrency analyst Ali Martinez observed that, currently, the cryptocurrency market is remaking itself as it usually happens around the halving event. According to the data shared by the expert, in 2012, 2016 and 2020, Bitcoin suffered a correction of 26%, 40% and 20%, respectively, before or shortly after the halving.
At the time of publication, the Bitcoin price it was quoted at US$62.393,45, down 3.1% in the last 24 hours.
