Transactions by whales, which represent major investors in Bitcoin, have experienced a significant decline recently.

According to the data provided by Santiment, the number of transfer transactions worth more than 100 thousand dollars yesterday was determined as 8 thousand 129, and those exceeding 1 million dollars was determined as 1,510. The numbers were 24 thousand and 4 thousand 582, respectively, at the beginning of March. Thus, a 66 percent decrease was seen in two months for both transactions over 100 thousand dollars and over 1 million dollars.

The number of Bitcoin transactions worth over $1 million decreased by 66 percent in two months.

This decrease in whale transactions is thought to be among the reasons for the stagnation in prices. According to analysts, if whale activity revives, Bitcoin may see a rise again.

The number one cryptocurrency by market value is trading at approximately $64,000 today, with a 13 percent drop after its peak of $73,777 in early March.

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