According to Foresight News , Santiment stated in a report that wallets holding 10 to 10,000 Bitcoins are increasing their Bitcoin holdings, and the proportion of Bitcoin held by such wallets in the total supply has increased from 68.07% seven days ago to 68.17%.
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; if retail investors continue to buy Bitcoin, it could mean there is more room for further declines in the future.
Santiment also stated that, historically, the market tends to bottom out when the "masses" lose hope. Currently, the continued surge in retail investor optimism is the biggest obstacle preventing the market from bottoming out.
