No Need to Panic: Bitcoin Investors Stay Bullish Despite Recent Correction

Following Bitcoin's recent dip to $93,000, cryptocurrency analysis firm Santiment has shared an optimistic outlook, suggesting that both large-scale "whale" investors and smaller "shark" traders are not overly concerned.

Despite the decline, these key market players appear confident in the continued potential of Bitcoin.

Santiment reported that in November alone, investors holding at least 10 BTC have collectively acquired 63,922 BTC, totaling around $6.06 billion in value.

This significant accumulation indicates that major investors remain bullish on Bitcoin, which could point to a strong market sentiment, even if the short-term price dips continue.

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The report also highlighted MicroStrategy’s recent purchase of Bitcoin, which some analysts initially found surprising given the price drop afterward.

However, the overall sentiment remains positive, with many in the industry speculating that Bitcoin could still hit $100,000 by the end of 2024.

Polymarket’s odds currently reflect a close call, with a 48% chance that Bitcoin will first hit $90,000, and a slightly higher 52% chance it will reach $100,000.

Alexander Stefanov