Bitcoin 'Whale' Sells Over 81,000 BTC in 8 Days, Retail Investors Buy the Dip

BlockBeats News, February 6th, Santiment released an analysis pointing out that the recent Bitcoin price dipped to $60,001, the first time since October 2024, with the main driving factor behind it being a structural shift of whales reducing their holdings and retail investors continuing to buy the dip.

Data shows that addresses holding 10–10,000 BTC, known as "whales and sharks," currently hold a total of 68.04% of Bitcoin's circulating supply, hitting a 9-month low. Just in the past 8 days, this group has net sold 81,068 BTC.

At the same time, the supply percentage of "shrimp addresses" holding less than 0.01 BTC has risen to a 20-month high of 0.249%. Despite the low percentage, this trend reflects retail investors continuing to buy during the dip and refusing to surrender.

Santiment points out that the combination of key players (whales) selling and retail investors buying has historically corresponded to the formation of bear market cycles. Until there is a clear sign of retail "surrender-style selling," smart money may continue to offload their positions and not rush to buy back in until retail investors choose to exit.