Indicators Show Optimism Among Bitcoin Whales Despite Market Conditions

Experts observe a bullish sentiment among retail investors and a lack of profit-taking behavior among whales, even as the price of the leading cryptocurrency approaches its all-time high (ATH).

According to analysts at Santiment, there are roughly two positive comments on social media about the market for every negative one.

This assertion is backed by the values of the cryptocurrency fear and greed index.

CryptoQuant analyst Crypto Dan noted that most market participants do not seem inclined to cash out their profits.

In a similar vein, his colleague known as Darkfost highlighted optimistic signals from «Binance whales,» adding that the behavior of these large players is surprising.

He pointed out that during the local price peak in May 2024, whale inflows to exchanges exceeded $5.3 billion. Subsequent price extremes were accompanied by inflows of $8.45 billion and $7.24 billion, followed by short- and medium-term corrections.

As of the time of writing, Bitcoin is trading around $107,800. Since the beginning of the year, the digital gold has appreciated by 15.45%, according to CoinMarketCap.

It’s worth noting that at the end of May, analysts recorded a shift among Bitcoin whales from accumulation to selling.