Whales Sell 66% After $74k Rally, Retail Buys Bitcoin
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- Whales bought heavily between Feb 23 and Mar 3 at $62.9k–$69.6k, then sold ~66% of those holdings after Bitcoin rose to $74k.
- Retail investors (wallets <0.01 BTC) increased buying as price fell below $70k, a pattern Santiment flags as warning sign.
- Glassnode reports ~43% of Bitcoin supply is underwater, creating selling pressure when price climbs.
- Crypto Fear and Greed Index dropped 6 points to 12, deep in “extreme fear,” one of the lowest readings since the October crash.
- Bitcoin price has swung from $60k (Feb 6) to $74k (Mar 5) and now sits around $68k, with intra‑week volatility but little net change, leaving the market at a crossroads between a breakout above $74k or a test of the $60k support.
Why it matters: Large holders' profit‑taking squeezes buying pressure, while retail accumulation cannot offset the 43% underwater supply, meaning the market could slide toward the $60,000 support rather than sustain a breakout; investors with short positions stand to gain as price declines while long‑term holders risk further losses.
