Bitcoin whales, the key drivers of the cryptocurrency market, are adopting a cautious stance as the asset’s price consolidates around $96,000. On-chain data reveals a noticeable reduction in large-scale transactions, signaling a “wait-and-see strategy” amid an uncertain market outlook.
The market’s pause comes after weeks of volatility fueled by macroeconomic concerns and regulatory developments. Despite the relative calm, analysts highlight that whale wallets have shown limited buying or selling activity, suggesting anticipation of a potential price breakout. This inactivity contrasts with retail investors, who remain more active in accumulating smaller Bitcoin holdings.
Experts warn that such consolidation phases often precede significant market moves. With Bitcoin dominance climbing, the broader crypto market could soon face directional shifts. Investors are eyeing key resistance levels, while any deviation could set the tone for the next phase of Bitcoin’s trajectory.
