🐳 The decline in overall whale activity across most crypto assets has become more and more noticeable. Peak 2024 $100K+ transaction weeks for BTC & ETH compared to recently:

Bitcoin:
March 13-19: 115.1K Whale Transactions
August 21-27: 60.2K Whale Transactions

Ethereum:
March 13-19: 115.1K Whale Transactions
August 21-27: 31.8K Whale Transactions

Be mindful that a decline in whale activity doesn't necessarily mean they are dumping or prices are likely to drop as a result. Top addresses notoriously become most active during times when volatility is at its highest.

Overall, among activity that is happening from whales, Santiment data still indicates a steady flow of accumulation despite less overall transactions.

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📊 Crypto is showing signs of recovery, with Bitcoin rebounding to as high as $61.3K today. The crowd sentiment has been flipping more and more bullish for most top caps since the August 5th bottom, and BTC +19% since that fear-causing crash. 👍

📈 In the most volatile week crypto has seen since the FTX collapse two years ago, markets are ending it with a celebratory bang. XRP's bullish reaction to its lawsuit has led price gains, while BTC and ETH continue punishing the Monday & Tuesday bottom sellers.👍

📈 XRP's market cap has skyrocketed once again, growing by +23% in the past 24 hours. Wallets holding between 1M-10M coins on the XRP Ledger now hold an all-time high 7.06B coins ($4.42B), and the project's social media discussions are at their highest levels since January.

📊 Crypto markets have retraced across the board, leaving traders calling for sub-$50K prices once again. However, history shows that when we see such low 7-day average trader returns for top caps like BTC, ETH, ADA, XRP, DOGE, and LINK, bounce probabilities rise significantly.

🐂🤞 Traders mainly have a bullish outlook toward top caps as the calendar has turned to August. Expect the FOMO to die down a bit before BTC, ETH, XRP, and SOL go on major runs. BNB is one of the few large caps seeing less bullish narratives than average at the moment.