Bitcoin retail sellers send $625M to Binance before 'first cycle top'

Key Points

  • Retail investors are selling Bitcoin, sending 6,000 BTC to Binance in January.
  • Whales are holding off on major selling, with only 1,000 BTC sold in the same period.
  • Analysts suggest the Bitcoin bull run has more room to grow before reaching its peak.

Summary

Recent data from CryptoQuant indicates a stark contrast in the behavior of Bitcoin investors. While retail investors have been actively selling off their holdings, transferring 6,000 BTC to Binance in January alone, Bitcoin whales are taking a more cautious approach, with only 1,000 BTC sold during the same period. This behavior suggests that retail investors might believe the bull market has peaked, whereas whales are possibly waiting for further gains. Analyst CryptoCon, using Google Trends data, has identified that retail interest in Bitcoin follows a predictable cycle, currently in phase 3, with the next phase expected to be the "First Cycle Top." Despite the current selling by retail investors, the overall market sentiment, according to various analyses, indicates that Bitcoin's price could still rise significantly before reaching its cycle top, with some estimates suggesting it could surpass $150,000. This divergence in investor behavior highlights the differing strategies between retail and institutional investors in the cryptocurrency market.

cointelegraph
January 31, 2025
Crypto
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