Bitcoin has fallen below $70,000, and the rebound is slow to convince. If small investors see this decline as a golden opportunity, large portfolios have chosen to sell. According to the Santiment analysis platform, this gap between the two camps suggests that the correction could continue.
In brief
- Bitcoin whales resold around 66% of their recent purchases as soon as the price crossed $74,000.
- Small investors (less than 0.01 BTC) are intensifying their purchases below $70,000.
- The Crypto Fear & Greed Index displays a score of 12, in the “extreme fear” zone.
Bitcoin whales cash in, individuals follow the movement against the tide
In a report published Friday March 7, the Santiment platform lifts the veil on revealing behavior. Between February 23 and March 3, Bitcoin whales, wallets holding between 10 and 10,000 BTC, accumulated quietly, profiting from a price between $62,900 and $69,600. A methodical strategy, carried out under the radar.
But as soon as bitcoin crossed $74,000 on Wednesday, the behavior of these big players changed dramatically. Santiment says they've resold about 66% of their recent purchases, cashing in their profits without hesitation.
“ As soon as bitcoin hit $74,000, these major players started taking profits », summarizes the platform.
Meanwhile, small holders, those holding less than 0.01 BTC, have made the opposite move. Attracted by the decline, they strengthened their positions, convinced that they were buying at the right time.
This seemingly banal pattern is in reality a classic warning signal in crypto markets. Santiment is categorical:
When individuals buy while large investors sell, it usually indicates that the correction is not yet over.
Indicators that confirm bearish pressure
The overall picture is bleak. Crypto Fear & Greed Index lost 6 points additional to settle at 12 on Saturday, sinking a little further into the “extreme fear” zone. A rarely seen level, which reflects widespread anxiety among investors.
As for US spot Bitcoin ETFs, the day was particularly painful: $348.9 million in net outflows were recorded across the 11 listed products, according to Farside data. This is the strongest daily outflow since February 12, a sign that institutional investors, too, are reducing their exposure.
On a technical level, the level of $67,000 – $68,000 attracts all the attention. Michael van de Poppe, founder of MN Trading Capital, is blunt:
If Bitcoin does not find support in this zone, we will likely retest the lows for liquidity reasons before rebounding.
Lower still, some analysts mention a fair value gap around $66,500, an area of low liquidity likely to attract trading.
One element nevertheless qualifies this ambient pessimism. On March 4, nearly 32,000 BTC left the Bitfinex platform in a single day, a move described as “abnormal” by CryptoQuant analysts, often associated with quiet institutional accumulation. If net flows remain negative in the coming days, a solid bullish signal could emerge.
In short, bitcoin is trading at $67,984 at the time of publication. The $67,000 – $68,000 zone will be decisive: either buyers hold on and prepare for the next rebound, or the market retests lower levels before finding its equilibrium. In a context of extreme fear, every candle counts.
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