According to Santiment's analysis, wallets holding more than 10 bitcoins have experienced several key turning points in the past six months, with a slight sell-off from mid-February to early March exacerbating the crypto market's recent decline. However, since March 3, these large wallets have re-stocked nearly 5,000 bitcoins, while retail investors are panicking. The data chart shows several key points in time: large holders started hoarding at the beginning of the bull market on October 12 last year; hoarding was suspended during the holiday drop on December 26; hoarding resumed on January 12, the week before Trump's inauguration (when Bitcoin hit a record high of $109,000); selling began on February 19; and hoarding again on March 3, when retail sentiment was at its most pessimistic. Mr. Santiment said that while prices had not yet reacted to big-ticket buying, if these key stakeholders continued to hoard, the market could perform better in the second half of March than the seven-week "bloodbath" that followed bitcoin's record high.