Santiment Reports Bitcoin in Bullish Zone as Whales Accumulate

On-chain analytics firm Santiment reports that Bitcoin is currently in a bullish zone, driven by the behavior of whale and retail investors.

Bitcoin Investor Behavior

Whales and sharks (holding 10 to 10,000 BTC) have increased their Bitcoin supply recently, indicating accumulation.
Retail investors (holding less than 0.01 BTC) have been selling their holdings during this period.
This divergence suggests strong backing from large investors for the recent price rally.

The market is now classified as "Very Bullish" due to this investor behavior pattern, which Santiment identifies as ideal for a bull run.

Since January 10th, whales and sharks have acquired 32,693 BTC, increasing their supply by 0.24%. Retail investors reduced their holdings by 149 BTC, a 0.30% decrease.

Santiment notes that the duration of this "Very Bullish" zone depends on retail investors' continued skepticism about the rally.

BTC Price Update

Bitcoin surpassed $97,000 but has since settled around the $96,900 level.