In a recent post on X, blockchain analytics platform Santiment revealed that large Bitcoin transactions, typically valued at $100,000 or more, have declined by 33.6% since March 13.
Bitcoin whale activity has significantly decreased since the cryptocurrency reached its yearly high in March, according to recent data.
These whales, defined as wallets holding at least 10,000 BTC, are known for their influence on market movements.
The slowdown in activity from major Bitcoin holders, often referred to as “whales,” is not necessarily a bearish signal, Santiment suggests.