TechFlow reported on March 10 that, according to Santiment analysis, wallets holding more than 10 bitcoins have experienced several key turning points over the past six months. A slight sell-off by these large holders from mid-February to early March intensified the recent downturn in the crypto market. However, since March 3, these major wallets have resumed accumulation, amassing nearly 5,000 bitcoins, while retail investor sentiment remains fearful.
The data chart highlights several critical moments: large holders began accumulating in the early stages of the bull market on October 12 last year; paused accumulation during the holiday-season decline on December 26; resumed buying one week before Trump’s inauguration on January 12—when Bitcoin hit a record high of $109,000; started selling on February 19; and restarted accumulation on March 3, precisely when retail sentiment was at its most pessimistic.
Santiment noted that although prices have not yet reacted to the buying activity of large holders, if these key stakeholders continue accumulating, market performance in the second half of March could outperform the "bloodbath" seen over the past seven weeks since Bitcoin reached its all-time high.
