FameEX Hot Topics | Bitcoin Whale Transactions Show ‘Notable’ Decline Since March Price High

Blockchain analytics firm Santiment reports that the recent decline in Bitcoin whale activity is not necessarily a bearish signal. While whale transactions have slowed since Bitcoin reached its peak in March, these large holders are likely waiting for the next significant buying or selling opportunity, according to the latest data.

In a September 11 post, Santiment highlighted that cryptocurrency whale transactions have noticeably decreased since mid-August. Bitcoin transactions of $100,000 or more have dropped by 33.6% since March 13, the day Bitcoin hit its all-time high of $73,679. Ether transactions have experienced an even sharper decline, falling by 72.5% over the same period.

However, Santiment emphasized that this slowdown in whale activity should not be seen as a negative outlook for the market. Whales—wallets holding at least 10,000 BTC—remain active in both bullish and bearish conditions. According to Santiment, these large stakeholders are “biding their time,” waiting for moments of extreme market sentiment, driven by either greed or fear, to make their next moves.

The current sentiment in the crypto market is classified as “fear,” with the Crypto Fear & Greed Index reflecting a score of 31 out of 100. Historically, investors have viewed fear in the market as a prime buying opportunity. Although Bitcoin has dropped by 0.97% since August 13 and is currently trading at $58,360, some analysts expect the cryptocurrency to experience further declines before reaching its cycle bottom.

On August 7, Markus Thielen, head of research at 10x Research, predicted that Bitcoin could fall to the “low 40,000s” as an ideal entry point for the next bull market. Santiment also noted that if Bitcoin drops to $45,000, it could trigger fear, uncertainty, and doubt (FUD), but a rebound toward $70,000 could lead to fear of missing out (FOMO).

Despite the recent market volatility, crypto traders expect these fluctuations to be short-term and view them as part of the normal behavior in the cryptocurrency space.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.