Santiment: Bitcoin Whale Activity Continues to Increase, Propelling Bitcoin Above $71,000

BlockBeats News, March 15th, Santiment released a report stating that "Whale wallets holding between 10 and 10,000 bitcoins shifting to accumulation behavior is a bullish signal." Santiment's data shows that the aforementioned whale group currently controls 68.17% of the total bitcoin supply, up from 68.07% seven days ago.

Santiment suggests that if whales continue to accumulate bitcoin while the share of retail investors starts to decline, bitcoin may be forming a local bottom.