Synthetix Network (snx) 
Bitcoin Sees Strong Accumulation Phase Among Retail Investors
Bitcoin’s recent rally above the $95,000 mark has triggered a strong phase of accumulation among retail investors. According to data, Bitcoin recorded an exchange net outflow of $6 billion over the last seven days, with $3.9 billion on November 19 alone.
Impressive Accumulation Wave Sends Bitcoin to New Heights
The impressive accumulation wave sent Bitcoin to an all-time high of $99,655 on November 23. Additionally, a $3.38 billion weekly net inflow into spot BTC exchange-traded funds in the U.S. played a crucial role in sending Bitcoin close to the $100,000 mark.
This data suggests that retail investors have been more active than large holders in the market, driving the price of Bitcoin upwards.
Whale Activity Cools Down as Price Reaches ATH
On the other hand, whale activity around Bitcoin started to cool down before the price reached its all-time high. Data shows that large transactions consisting of at least $100,000 worth of BTC fell from 32,000 to 19,500 between November 21 and 24. The volume plunged from $136.4 billion to $53.6 billion in the mentioned timeframe.
Last week, Bitcoin recorded a total of $243.67 billion in whale transactions. Despite the decline in whale transactions, the Bitcoin large holder net flow shifted from a net outflow of 9,190 BTC to a net inflow of 4,090 BTC on Sunday, November 24.
Potential Trigger for Fear of Missing Out Among Market Participants
The surge in whale accumulation could potentially trigger the fear of missing out among market participants. A surge above the $100,000 mark could potentially increase the buying pressure among both small and large Bitcoin holders.
Bitcoin has been consolidating close to the $98,000 zone in the past 24 hours, with its daily trading volume seeing a 27% surge, reaching $55 billion.
Global Crypto Market Cap and Liquidations
The global crypto market cap slipped 2.3% over the past day to $3.47 billion. Moreover, liquidations reached $494 million as Bitcoin’s fall below the $98,000 mark earlier today triggered a market-wide decline, majorly affecting small-cap altcoins.
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