On September 12, Santiment posted on X that crypto whale trading has declined significantly since mid-August. Bitcoin: The number of transfers over $100,000 is down 33.6% since its peak in March/April; Ethereum: Since its peak in March/April, the number of transfers over $100,000 has decreased by 72.5%. This is not necessarily a bearish signal, the analysis said. Whales are equally active in bull or bear markets. But it does suggest that in times of extreme greed or extreme panic among the masses, large key stakeholders continue to bide their time and wait for the next move. Since Bitcoin reached all-time highs 6 months ago, people have reacted very strongly to mid-sized volatility. Based on sentiment patterns, Bitcoin's return to $70,000 could be accompanied by a large amount of FOMO, while a fall to $45,000 could lead to severe FUD.