Santiment Reports: What’s the Current Situation of Bitcoin (BTC)?

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On-chain analytics platform Santiment says that Bitcoin (BTC) is trying to recover from the dips, thus giving positive signs for it to rise. Santiment also reports that investors are sticking tightly to Bitcoin stocks with the crypto market breakouts. In addition, this famous analytics platform underlines that Bitcoin stocks are now more valuable than gold, and this trend points to a recovery.

Despite the inflation in traditional markets and the recessions in all markets after the developing Russia-Ukraine war, Bitcoin is trading above $ 40,480 at the time of writing, above a significant break of $ 38,000.

Micro Investors Are Now Available!

On the other hand, the balance sheet of the FED has more than doubled in the last two years, reaching a new record level with $8.93 trillion, as the Fed continues to buy bonds. Inflation in the US increased significantly this month, reaching the highest level in the last 40 years.

Glassnode, another on-chain analytics firm, reports that Bitcoin wallets are more geared towards savings, with micro-investors showing more aggressive, clear interactions in the market than macro investors. Although giant investor whales, famous for their opportunity-seeking, are notorious for making purchases at the bottom of the market, micro investors are also starting to take advantage of the current market volatility and are trying to take Bitcoin from the bottom.

Opportunistic Whales

On the other hand, Santiment reports that whales were making frantic Bitcoin purchases when Bitcoin dropped to $34,322. Santiment emphasizes that many large purchases between $100,000 and $1 million have been made by whales, especially since January 24. As Bitcoin and other cryptocurrencies fall, whales make massive trades, causing prices to rise in the week following the traded week. For example, it is reported that Bitcoin increased by 15% after these huge transactions made after January 24.

In general, experts predict increases for Bitcoin (BTC) both in the short-term and in the long-term, and they advise investors to buy especially before these increases.