Recent analytics from Santiment reveal that large investors are accumulating Bitcoin, collectively adding over $5.3 billion since mid-December. In contrast, smaller retail traders have opted to take profits, contributing to a more bullish market environment.

“Crypto markets typically follow the path of key whale and shark stakeholders, moving in the opposite direction of small retail wallets.”
— Santiment

Whales and sharks are categorized as having between 10 and 10,000 BTC, while retail traders hold less than 0.01 BTC.

Since mid-December, large investors have acquired 56,227 BTC in total. Santiment suggests this indicates a market bottom, despite relative price stability.

Another key point from their report notes that retail traders are now cashing out, anticipating what they view as a potential “bull trap” or temporary rally, leading to a probable increase in market capitalization across the cryptocurrency landscape.

Bitcoin’s Current Trading Trends

Bitcoin (BTC) has shown sideways trading patterns for six weeks, maintaining a range between $87,000 and $94,000. According to TradingView, it recently reached a seven-week peak of $94,800 on Coinbase.

Potential Breakout Ahead

Analyst James Check noted the current restructuring of Bitcoin’s market supply, highlighting significant changes bolstering bullish sentiments.

“Bitcoin remains in a bullish consolidation phase,” said Andri Fauzan Adziima.

Expectations are centered around resistance points between $95,000 to $100,000, with immediate support at $88,000 to $90,000.

For further reading on market trends and projections, check out Santiment’s latest updates.