Big Bitcoin Investors Unfazed by BTC Correction as Whale Rally Continues: Sentiment

Bitcoin went through its biggest correction since the Trump-induced rally began three weeks ago, falling from nearly $100,000 on Friday to less than $92,000 today.

While this pullback might scare off newer investors who haven’t yet caught on to BTC’s volatility, the market’s biggest participants, like whales and sharks, are continuing their build-up.

CryptoPotato reported all price developments around bitcoin since November 6, when it was announced that Donald Trump would be the next US president. At the time, the largest cryptocurrency was below $70,000, but it staged a mind-blowing rally that saw its price rise more than $30,000 in weeks to reach a high of $100,000 on Friday.

As the community anticipated another minor push that could help BTC enter six-digit territory, the asset reversed course and began to lose traction.

It fell to $98,000 and $96,000 over the weekend, but the most substantial correction came at the start of the work week. Today, BTC fell to $91,500 (on Bitstamp), thus losing approximately eight thousand since Friday’s rejection.

Analysts are now speculating whether the worst is over, with some metrics across the chain pointing to a potential further pullback in the near term, but an overall continuation of the bullish rally.

However, data from Santiment shows that the biggest investors, called whales and sharks, piled in heavily in November, adding more than $6 billion in BTC to their stash. Accordingly, the analysis platform concluded that there is no need to panic yet.

Time to panic after Bitcoin opened the week with a slight pullback below $95,000? Whales and sharks certainly don’t think so. In November alone, wallets with at least 10 BTC have now accumulated an additional 63,922 coins (worth $6.06 million). As long as they keep moving their… pic.twitter.com/6EVS9UtFtm

— Santiment (@santimentfeed) November 25, 2024

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

LIMITED OFFER for CryptoPotato Readers on Bybit – Use this link to register and open a FREE $500 position with any currency!