The recent trading volume of Bitcoin whales has dropped by over 40%

News on June 24, according to Santiment statistics, the total number of Bitcoin whale transactions (100,000 USD or above) in the past two days was 9,923, a decrease of 42% from the previous two-day record of 17,091. The change in whale behavior occurred as Bitcoin's price fell from $64,685 to $63,422 and further dropped to $62,393 at the time this article was published. In addition, Ki Young Ju , CEO of CryptoQuant stated that whales betting on future bitcoin prices have also backed off. Whale traders on derivative exchanges are in hedge mode - a term used to describe bearish changes in market sentiment.