The crypto market’s fear gauge hit 15, signaling extreme fear, but the biggest Bitcoin holders are returning. According to Santiment, wallets holding 10-10,000 BTC increased their share of total supply to 68%, accumulating at $71,000 after previous losses. This contrasts with large wallet holders who offloaded 65% of Bitcoin from Feb 23 to March 3. Analysts are watching if retail participation declines. Willy Woo suggests Bitcoin remains in a bear market. ETF inflows of $767M add complexity to the short-term outlook.