Bitcoin Whale Holds for 8 Days, Sells Over 81,000 BTC; Retail Investors Buy the Dip

**Bitcoin Drops to $60k Low Amid Whale Selling, Retail Dip Buying (Santiment)** On February 6th, Santiment analysis notes Bitcoin recently hit a low of $60,001—its first dip below that level since October 2024. The primary driver? A structural shift: whales are cutting holdings while retail investors keep buying the dip. Data shows addresses holding 10–10,000 BTC (dubbed “whales and sharks”) now control 68.04% of Bitcoin’s circulating supply, marking a 9-month low. In just the past 8 days, this group has net sold 81,068 BTC. Meanwhile, the share of Bitcoin held by addresses with <0.01 BTC (called “shrimp addresses”) has climbed to a 20-month high of 0.249%. Though the percentage is small, the trend signals retail investors are holding firm through the dip and refusing to capitulate. Santiment adds that historically, a mix of whale selling and retail buying has aligned with bear market cycles forming. Until there’s a clear sign retail investors “throw in the towel” (sell off), smart money may keep reducing holdings and hold off on refilling positions until retail exits.