I just checked the Santiment data and there's something interesting happening with Bitcoin. While the price moves between 67k and 68k, small investors are still buying aggressively, but the whales (those wallets with 10-10k BTC) are selling after the rally to 74k. It's as if they are taking profits just when most expect it to go higher.

The strange thing is that this happened between late February and early March. The whales accumulated quite a bit when the price was between 62,900 and 69,600, but as soon as it hit 74k, they sold 66% of those purchases. Meanwhile, small holders kept increasing their positions. The fear index reached an extreme (12 points), and Bitcoin ETFs had outflows of nearly 349 million in a single week. That is the strongest in three weeks.

The pattern suggests that the finished bottom level might not be as clear as it seems. If the big players are leaving and institutional demand drops, the price could continue testing deeper supports before stabilizing. Analysts mention that the 67k-68k zone is critical. If it breaks, it could drop back to 60k. Right now, Bitcoin is at 77.88k, but that doesn't change the fact that the imbalance between retail investors and whales remains key to seeing whether there is a real rebound or if it's just a pause in the correction. The finished bottom level will depend on whether retail demand holds when the big players withdraw.