Bitcoin whale activity at 2023 low as smart money stays quiet

Bitcoin whale activity is slowing to its weakest level since September 2023, reinforcing signs that large holders are cautious. According to Santiment, Bitcoin transfers above $100,000 fell to 6,417 per day (lowest since Sep 2023), while transfers above $1 million dropped to 1,485 (lowest since Oct 2024). Bitcoin whale activity weakened after the early-February sell-off volatility, when big holders moved funds more aggressively. Since then, markets have consolidated and failed to regain momentum. Santiment links the pause to policy and global uncertainty, including trader focus on the CLARITY Act and Middle East conflict headlines. The firm says “smart money” is acting similar to retail: reluctant to move without clearer signals. Price action also shows sensitivity to external events. Bitcoin recently topped around $76,000, then was rejected and fell below $68,000 before bouncing toward $72,000; it later slipped under $70,000 again. Analysts cite washout among short-term holders, pointing to heavy realized losses and “capitulation” after traders bought near ~$80,000 as BTC moved below $70,000. For traders, the key takeaway is that Bitcoin whale activity is quiet during a consolidation phase, which can reduce near-term large-holder follow-through and keep price driven by risk headlines.