Bitcoin Rally Hopes Rest on Whales Joining Small Investors
Small wallets have increased their BTC holdings by 2.5% since October's all-time high while large holders trimmed 0.8%, Santiment data shows.
Bitcoin investors are closely watching the market as small investors continue to buy into the digital currency. According to Santiment data, small wallets have increased their BTC holdings by 2.5% since October's all-time high, indicating growing interest among individual investors.
However, for a sustained rally to succeed, market analysts are eagerly awaiting the participation of whales - large holders who have trimmed their holdings by 0.8%. The involvement of these significant players is seen as crucial for the overall momentum and stability of the market.
As Bitcoin continues to garner attention from a diverse group of investors, the upcoming days will be crucial in determining the direction of the cryptocurrency's price movements.