Bitcoin, the largest digital asset, has faced bearish movements and dropped below $95,000, affecting investor sentiment negatively.
Small Bitcoin wallet addresses holding 1 BTC or more, known as Shrimps holders, have been rapidly declining, indicating decreasing confidence in BTC's short-term prospects.
Whale investors have also shown selling pressure, with wallets holding between 1,000 BTC and 10,000 BTC selling off about 50,000 BTC, reflecting profit-taking actions at current levels.
Key metrics like Open Interest (OI) falling by over 37% and funding rates shifting to the negative side suggest a possible market reset or accumulation phase, as per on-chain analysts' observations.