Whales are reluctant to buy the dip
On-chain metrics reveal a worrying trend among large BTC holders. Wallets holding between 1,000 and 10,000 BTC have reduced their holdings by approximately 220,000 BTC over the past year.
This is the sharpest decline in accumulation since early 2023. Large market participants likely expect a deeper correction and are hesitant to return to active buying.
Given this, it can be inferred that the trend of major holders retaining their cryptocurrency may continue, with further price fluctuations of BTC remaining possible.
