Bitcoin whale activity has plunged to its lowest level since September 2023, according to on-chain analytics firm Santiment. The Whale Transaction Count-tracking daily transfers over $100,000-now stands at 6,417, with million-dollar-plus transfers down to 1,485, the weakest since October 2024.
The drop follows a brief spike during Bitcoin’s early-February price crash, typical of whale behavior during volatility. But as BTC entered a consolidation phase near $70,000, large investors went quiet. Santiment attributes this caution to uncertainty surrounding the CLARITY Act and ongoing global conflicts.
"Smart money is in the same boat as retail-reluctant to move amid policy and geopolitical fog," the firm noted.
