Bitcoin Whales Sell Off as Retail Investors Buy Amid Price Fluctuations

Bitcoin whales have sold approximately 66% of the coins they accumulated between February 23 and March 3, following a price increase above $70,000, according to NS3.AI. Retail investors holding less than 0.01 BTC are purchasing as the price dips below $70,000. Santiment suggests this pattern indicates the correction may not be over. The recent downturn also resulted in $348.9 million in net outflows from U.S.-based spot Bitcoin ETFs and caused the Crypto Fear & Greed Index to drop by 6 points to 12, categorized as "Extreme Fear."