On March 15, Santiment released a report stating that "the recent shift in Bitcoin accumulation by whale wallets holding between 10 and 10,000 Bitcoins is a bullish signal." Santiment's data shows that the aforementioned whale group currently controls 68.17% of the total Bitcoin supply, up from 68.07% seven days ago.
Santiment suggests that if whale continue to increase their Bitcoin holdings while retail investors' holdings begin to decline, then Bitcoin may be forming a local bottom.
