Blockchain analytics firm Santiment reports that since mid-August, the trading volume of cryptocurrency whales has dropped significantly, with Bitcoin whales (wallet addresses holding at least 10,000 BTC) with a single transaction value of $100,000 or more seeing a 33.6% drop in trading volume. Ethereum whales saw a 72.5% drop in trading volume over the same period. But whales are equally active in both bull and bear markets, so their reduced trading volume does not mean that the future trend of the crypto market is bearish. Large stakeholders are just "biding their time" and waiting for extreme market sentiment to emerge before taking the next step. The current market sentiment is classified as "fear", with the Crypto Fear and Greed Index at 31 out of 100, and the state of fear in the crypto market is often seen as a buying opportunity by large investors. Although the current Bitcoin price has fallen 0.97% to $58,360 since August 13, some analysts believe that the current price has not yet hit the bottom and Bitcoin may fall further. On August 7, Markus Thielen, head of research at 10x Research, predicted that Bitcoin could fall to "low $40,000," which would be the best buy price for the next bull run. Santiment added that if the price of Bitcoin falls to $45,000, it could trigger panic, uncertainty and doubt (FUD) in the market, but if its price rebounds to $70,000, it could trigger FOMO sentiment. Although the sentiment in the crypto market has been constantly changing and market volatility has increased, long-term investors believe that these are short-term. The market has become accustomed to the violent fluctuations in cryptocurrencies in the past few weeks. Investors should focus on fundamentals, stick to common sense, and keep a long-term perspective. The real value will stand the test of time. Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.
