Santiment says the recent uptick in Bitcoin whale accumulation is a “positive reversal,” and the platform is watching for retail selling to confirm a potential market bottom.
Large Bitcoin wallets are increasing their holdings again as the asset’s price holds around $71,000, according to crypto sentiment platform Santiment.
“Their recent shift to accumulation is a bullish signal,” Santiment said in a report on Saturday, referring to wallets holding between 10 and 10,000 Bitcoin (BTC).
“This is a positive reversal,” Santiment added. Santiment data shows wallets holding 10 to 10,000 Bitcoin (BTC) now control 68.17% of Bitcoin’s total supply, up from 68.07% seven days earlier.
