Bitcoin Drops $8K in Two Days, Yet Large Investors Persist in Accumulation

Amid a bearish trend influenced by escalating geopolitical tension, Bitcoin's price has dropped from $95,500 to $87,500 in roughly 48 hours, with a total plunge of over $10,000 since its multi-month high of $98,000 last week. Despite said slump, data from Santiment reveals contrasting investment behaviors. Smaller investors, holding less than 0.01 BTC, have sold about 132 units in the past nine days, a minor decrease of their total holdings. On the other hand, larger investors, labeled as whales or sharks, have accumulated an additional 36,322 BTC, equivalent to $3.2 billion at current rates. Factors behind the market volatility include US-EU geopolitical tension and the surge in long-dated Japanese government bond yields. Meanwhile, gold and silver continue to reach new highs.