So, here we are, folks! Bitcoin and its little altcoin buddies are still playing a dangerous game of “who can drop the lowest” thanks to some rather gloomy macroeconomic vibes. Thanks, Santiment, for the delightful news! 🙄
Crypto investors, hold onto your hats! Major Bitcoin (BTC) whales are selling off like it’s a clearance sale at a thrift store, and prices have been on a downward spiral for seven weeks straight. Can you believe it? Bitcoin has plummeted from its glorious peak of around $109,000 on January 19 to a mere $78,000. Talk about a dramatic fall from grace! 🥴 Santiment suggests that profit-taking by these big players is the culprit behind this nosedive.
“[…] when key stakeholders finally began to take profit on February 19, 2025, prices immediately began to see much steeper drop-offs. It is especially interesting to see that prices have continued to plummet (falling back to a low of $78K today) even after these high capital BTC wallets began to buy back in one week ago on March 3, 2025.”
Santiment
And let’s not forget the delightful macroeconomic concerns! Trade tensions, tariffs, and a potential trade war are adding to the market’s anxiety. Thanks, U.S. policies! 🙃 Santiment warns that we might be in for even more turbulence. Who knew investing could feel like being on a plane during a storm?
Now, the public seems to be bracing for a drop to the $69,000-$50,000 range. Social media is buzzing with this price talk while the market continues to tumble. Altcoins are taking an even bigger hit than Bitcoin. In the last 30 days, Ethereum (ETH) has dropped 29%, Solana (SOL) 40%, and Dogecoin (DOGE) 38%. Ouch! 😱
But wait! There’s a glimmer of hope! Santiment sees signs that long-term holders are starting to accumulate again. The analysts believe that the market could bounce back when those big Bitcoin holders decide to start buying again. Until then, let’s just sit back, grab some popcorn, and watch the chaos unfold on social media! 🍿
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2025-03-11 11:02