According to new data provided by Santiment on 3 January, Bitcoin [BTC] witnessed a massive spike in interest from retail investors over the last six months. The king coin, which was affected by the bear market, could be impacted positively by the renewed interest from retail traders.
Addresses holding 0.1 to 10 BTC continued to grow in the latter half of 2022. Based on Santiment’s report, retail investor behavior in the past was correct over long-term periods. However, they had little luck when it came to short-term market movements.
Even though retail investors were showing interest in Bitcoin, whales were observed to be exiting their positions en masse. According to data provided by Santiment, addresses holding a 1,000 to 1 million BTC were witnessed to be selling their BTC. This resulted in the decline in the price of BTC and the subsequent decline of its Market Value to Realized Value (MVRV) ratio.
(By Suzuki Shillsalot)
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