The latest Santiment results, published in the Cointelegraph Consulting newsletter every week, show that the total amount of BTC in headlines with over 100 bitcoins has grown particularly strongly following Tesla’s $ 1.5 billion investment news. In BTC, this is an increase of another 20,490 BTC.
This pushes the total number of bitcoins in whale addresses to a new permanent high of over 11.6 million, likely reflecting the increase in institutional members over the last period of time.
The lunar calendar ended with a wave of news that brought bitcoin (BTC) annual volatility to 125%, which we haven’t seen since April last year. This has not stopped investors from buying BTC at constant highs as the price condenses a price that breaks the $ 50,000 mark for the first time. Some of this volume started with larger whale accounts, which should have been positive news for retail investors.
Based on text data gathered from over 1,000 social cryptocurrencies, the number of signals associated with Bitcoin has risen to its highest level since 2019, when Facebook’s Libra ads sparked more hectic retail purchases.
This latest boom easily overshadows talk of previous BTC heights from early to early this year. With this increase comes investor confidence as the mediocre sentiment in Bitcoin-related messages quickly went from “conflicted” Feb 1 to “massively bullish” at the time of writing.
A massive bullish trend could be a bad sign for an asset, especially when forward funding rates like Bitmex are pushed to their highest level since June 2019. When all investors agree in the market, fluctuations in opposition can lead to liquidation and the sale of fuel. Panic.
Investors who follow relationships with other asset classes will notice that the BTC moving average is moving away from the S&P 500, ETH, and gold moving averages. Even ether (ETH), which has grown 28% since Jan 26 to reach $ 1,745, has failed to match the 50% increase in BTC over the same period.
Read the full newsletter here for more news and signals with detailed charts and photos.