Розничные инвесторы поднимают ставки на биткойн, в то время как киты остаются в стороне Translation: Retail Investors Raise Bets on Bitcoin While Whales Stand Aside

By the end of 2025, the cryptocurrency market presented a mixed scenario. Analysts from Santiment examined the situation by comparing the activities of large players and retail investors.

Since July 1, wallets holding less than 0.1 BTC have increased their holdings by 3.31%. Conversely, addresses containing between 10 and 10,000 BTC have only grown their positions by 0.36%.

Experts have deemed this trend concerning. Historically, a shift to a bullish trend occurs when whales accumulate assets by purchasing them from disillusioned small holders.

In the latter half of 2025, the situation reversed: retail investors actively bought while larger players were passive or took profits at the October peaks.

At the same time, there is a noticeable decline in interest in the asset. According to analyst Oro Crypto, the «social volume» of Bitcoin is decreasing; even sharp price fluctuations no longer spark intense discussions, and mentions of the coin have fallen to single-digit figures.

Typically, a market peak is accompanied by euphoria and widespread retail interest. The current situation indicates emotional fatigue and apathy. The expert interprets this as a sign of consolidation or renewed accumulation, rather than the end of the cycle.

The drop in interest is corroborated by a decline in trading volumes. Santiment has recorded minimal activity over the last two weeks of the year.

In contrast to the end of 2024, when altcoins like Solana and Dogecoin were showing growth, trading volumes have halved.

Data from Alphractal indicates that the ratio of long to short positions is increasing.

Despite traders’ aggressive bets on the rise of the leading cryptocurrency, the asset’s price is not responding to the uptick in long positions. This divergence poses a risk of the market moving against the consensus.

Long-term investors are sending a positive signal: researcher Matthew Sigel from VanEck noted that holders have shifted to net accumulation for the first time since 2019. This reduces the selling pressure that was previously observed.

It’s worth mentioning that a trader known as Bull Theory compared Bitcoin’s sideways movement to «the calm before the storm.»