ICYMI: there are currently less Bitcoin whale transactions than in October or November, Santiment reports BTC $BTC
On-chain analytics firm Santiment notes that the Bitcoin network is currently getting around 13K transactions per day that exceed $100K in value, which is quite low compared to the number seen in October and November. It should be recalled that Bitcoin hit all-time highs of $69,000 on Nov. 10 as investors cheered the debut of the first Bitcoin futures ETF.
This is because, in order to avoid price slippage, traders who typically perform large-volume transactions may prefer to split their orders into smaller quantities over a longer period of time. Market prices can vary quickly during periods of heightened volatility, causing slippage to occur during the time between when a trade is ordered and when it is executed.
analytics. A good sign here is that 65% of holders in the money at the current price might imply less selling pressure from holders trying to break even on their positions.Bitcoin has seen mild relief at press time, rising substantially from its recent low, having fallen below the $40K mark in the prior day.
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