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The Rest of March Could Be Good for Bitcoin: 5K Units Came Back! - Coin Newsletter
Bitcoin (BTC) whales and large investors have reversed the selling pressure, raising nearly 5K BTC since March 3, which could be a positive signal for the rest of March.
According to data from Santiment, Bitcoin whales and large investors have been accumulating again in recent days. Major wallets, which have collected around 4,846 BTC since March 3, appear to have reversed a wave of selling that lasted from mid-February to early March. This accumulation movement could paint a more positive picture for the Bitcoin price for the rest of March.
According to Santiment's analysis, wallets holding 10 or more BTC have gone through significant turning points over the past six months. The sell-off, which lasted from mid-February to early March, triggered the recent declines in the price of Bitcoin. However, as of March 3, whales and large investors started collecting BTC again. Prices have not yet reacted to these purchases, but if this trend continues, the second half of March could see a rebound in the price of Bitcoin.
Whales' cycles of collecting and selling Bitcoin play a critical role in determining the direction of the market. With the bull run that started in October 2024, large investors started accumulating. However, on February 19, it started a wave of selling, attracting small investors to the market. In the process, Bitcoin reached an all-time high (ATH) of $109K**, while large wallets turned to profit realization.
Now, whales accumulating Bitcoin again could be a positive signal for the market. According to Santiment, if this trend continues, the price of Bitcoin could recover in the second half of March. However, the attitude of large investors will continue to be the most important factor in determining the direction of the market.