Smart money is buying, retail investors are selling: On-chain data is releasing bullish signals?

According to on-chain data, during the recent surge in Bitcoin prices, the behavior of retail investors and large holders has shown a clear divergence. Small wallets are taking profits, while large investors continue to buy.

Santiment posted on X yesterday that retail investors holding 0 to 0.01 Bitcoin have started selling since early May; meanwhile, sharks and whales holding 10 to 10,000 Bitcoins have been increasing their holdings.

Specifically, whales accumulated a total of 16,622 Bitcoins in the first few days of May, increasing their supply holdings by 0.12%; retail investors sold 28 Bitcoins during the same period, decreasing their supply holdings by 0.05%.

It is noteworthy that this divergence coincides precisely with the recent rise in Bitcoin prices. Historically, a combination of smart investors increasing their holdings and small investors reducing theirs is often a positive signal for a cryptocurrency bull market.

Based on analysis, Santiment concludes that although the May sample size is still small, the current wallet data trend is correct. If this can be sustained, it could support further price increases.

In the current market environment, are you more inclined to follow the big players' accumulation or to take profits? Leave your opinions and strategies in the comments!

#比特币 # On-chain analysis