Alongside a lackluster market, there has been a significant decline in whale activity across most major crypto assets.<\/p>\n
According to the latest analysis by Santiment, Bitcoin and Ethereum are seeing noticeable drops in $100k+ transactions.<\/p>\n
During the highly active period of March 13-19, Bitcoin saw 115.1k transactions valued at over $100k each, reflecting intense activity from large holders.<\/p>\n
However, by 21-27 August, this number had nearly halved to just 60.2k transactions, indicating a significant slowdown. Ethereum mirrored this trend, with its whale transactions dropping from 115.1k to a mere 31.8k over the same period.<\/p>\n
Similar trends are also seen across other top assets, such as XRP, Toncoin, and Cardano.<\/p>\n
While this reduction in high-value transactions might seem concerning at first glance, Santiment noted that a decline in whale activity does not inherently imply a bearish outlook. In fact, whale behavior often aligns with periods of heightened market volatility, where large players move assets to capitalize on rapid price swings.<\/p>\n
The current lower transaction volumes could suggest a phase of market consolidation or a temporary lull in volatility, rather than a precursor to a downturn, as per the crypto analytic platform\u2019s tweet<\/a>.<\/p>\n Moreover, the data suggests that among the transactions still taking place, there is a pattern of accumulation by top addresses. Even in the face of reduced overall activity, it essentially indicates that whales may be strategically positioning themselves for future market movements.<\/p>\n Instead of signaling an exodus from the market, the quieter activity could reflect a more cautious and calculated approach, with whales accumulating assets in anticipation of potential price appreciation in the near term.<\/p>\n QCP Capital\u2019s latest analysis reveals that Bitcoin ended August down 8.6%, struggling to recover from the early month\u2019s \u2018BOJ crash\u2019 and failing to rise above the 65k mark.<\/p>\n Ethereum fared even worse, plunging by more than 22% over the same timeframe, with alleged selling by Jump Trading exacerbating its decline.<\/p>\n Looking ahead, September\u2019s historical trend leans bearish, with six of the last seven closing in the red and an average return of around 4.5%, which could see BTC drop to $55k if the trend persists.<\/p>\n Despite the recent turbulence, the Singapore-based trading app expects the crypto asset to find strong support around $54k, a level that previously sparked a rebound in July before reaching $70k. Meanwhile, this week\u2019s economic data, including Unemployment Claims and Non-Farm Payroll (NFP) reports, are unlikely<\/a> to significantly impact crypto prices given the waning influence of macro data on the market.<\/p>\n The post Bitcoin, Ethereum, Ripple Whales Retreat: Here\u2019s What it Means<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Alongside a lackluster market, there has been a significant decline in whale activity across most major crypto assets. According to the latest analysis by Santiment, Bitcoin and Ethereum are seeing noticeable drops in $100k+ transactions. Whale Activity Plummets During the highly active period of March 13-19, Bitcoin saw 115.1k transactions valued at over $100k each, […]<\/p>\n","protected":false},"author":0,"featured_media":3179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3178","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\/3178"}],"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=3178"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3178\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3179"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What\u2019s in Store for September?<\/h2>\n