Bitcoin went through its largest correction since the Trump-induced rally began three weeks ago, plunging from almost $100,000 on Friday to under $92,000 earlier today.<\/p>\n
While such a retracement could scare newer investors who have yet to realize BTC\u2019s volatility, larger market participants, such as whales and sharks, continue their accumulation spree.<\/p>\n
CryptoPotato<\/em> reported<\/a> all the price developments around bitcoin ever since November 6 when it became known that Donald Trump will be the next US president. At the time, the largest cryptocurrency stood below $70,000 but went on a mindblowing rally that saw its price add over $30,000 in weeks to peak at just shy of $100,000 on Friday.<\/p>\n As the community was anticipating another minor push that could help BTC break into six-digit territory, the asset reversed its trajectory and started to lose traction.<\/p>\n It fell to $98,000 and $96,000 during the weekend, but the most substantial correction<\/a> transpired at the start of the business week. Earlier today, BTC slumped<\/a> to $91,500 (on Bitstamp), thus losing roughly eight grand since the Friday rejection.<\/p>\n Analysts are now speculating<\/a> on whether the worst has passed, with some on-chain metrics indicating a potential further retracement in the short term but an overall continuation of the bull rally.<\/p>\n Nevertheless, data from Santiment shows that larger investors \u2013 referred to as whales and sharks \u2013 have been accumulating hard in November, adding over $6 billion worth of BTC to their stash. Consequently, the analytics platform concluded that there\u2019s no need for panic yet.<\/p>\n Is it time to panic after Bitcoin has opened the week with a mild retrace below $95K? Whales and sharks certainly don\u2019t think so. In November alone, wallets with at least 10 BTC have now accumulated 63,922 more coins (worth $6.06B). As long as they continue moving their\u2026 pic.twitter.com\/6EVS9UtFtm<\/a><\/p>\n \u2014 Santiment (@santimentfeed) November 25, 2024<\/a><\/p>\n\n The post Large Bitcoin Investors Unfazed by BTC\u2019s Correction as Whale Accumulation Continues: Santiment<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin went through its largest correction since the Trump-induced rally began three weeks ago, plunging from almost $100,000 on Friday to under $92,000 earlier today. While such a retracement could scare newer investors who have yet to realize BTC\u2019s volatility, larger market participants, such as whales and sharks, continue their accumulation spree. CryptoPotato reported all […]<\/p>\n","protected":false},"author":0,"featured_media":23675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-23674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23674"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23674"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/23675"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}