TechFlow News, February 21: According to a CoinDesk report, on-chain data platform Santiment shows that since Bitcoin’s all-time high in October last year, small wallets holding less than 0.1 BTC—typically regarded as retail investors—have increased their holdings by approximately 2.5%, pushing their share of total supply to the highest level since mid-2024. In contrast, “large holders” (whales and sharks) holding between 10 and 10,000 BTC have collectively reduced their holdings by roughly 0.8%. Such structural divergence often results in volatile, indecisive price action without a clear trend.
Bitcoin is currently trading in the mid-$60,000 range. Market observers note that retail buying can provide some “floor support” and short-term momentum; however, for a sustainable rebound to materialize, large holders must halt distribution—or even shift to net accumulation. Analysts emphasize that Bitcoin does not lack retail participation at present; the key question is whether whales will stop selling pressure and instead turn to structural buying. Otherwise, each rally risks encountering significant sell-offs from holders at higher price levels.
