Bitcoin Whales Sold 66% of Recent Holdings Above $70,000 as Retail Buyers Added Below That Level

Cryptocurrency analytics firm Santiment reported Friday that Bitcoin whales holding 10 to 10,000 BTC sold about 66% of their recent accumulations after prices broke above $70,000 and touched $74,000, while retail investors increased buying as the asset dropped below $70,000 on March 7. The larger holders had significantly accumulated between Feb. 23 and March 3, when Bitcoin traded in the $62,900 to $69,600 range. Santiment noted that when smaller traders buy while whales sell, historical patterns suggest the market correction may have room to run.