according to Santiment data, after Bitcoin fell below $70,000, retail investors are buying heavily; however, judging from the behavior of whales, if historical patterns repeat, there is still room for further price decline.

Santiment stated in a Friday report: "As Bitcoin reached $74,000, these key holders began to take profits." The platform explained that whales holding between 10 and 10,000 bitcoins significantly accumulated between February 23 and March 3 (when Bitcoin prices ranged from $62,900 to $69,600).

Since Wednesday, when Bitcoin broke through $70,000 and reached $74,000, these whales have sold about 66% of their recent purchases. Meanwhile, retail investors holding less than 0.01 bitcoins have been continuously increasing their positions.

Santiment pointed out: "When retail investors buy and whales sell, it usually means the correction is not over yet."