Whales are undecided on stablecoins and bitcoin price

Large investors are unsure whether to buy stablecoins as the stablecoin market experiences recovery. Movement may be related to rises and falls of Bitcoin.
New tracking of cryptocurrency whales has indicated that many are undecided about their moves on stablecoins in relation to the price of bitcoin.
With a drop last August, bitcoin still accumulates an increase for the year, although in the short term it registered a retraction to the US$ 25 thousand range.
And the currency's crash forced whales to sell their bitcoins and buy stablecoins to protect themselves from the digital currency's volatility.
But while bitcoin depreciates in a pre-halving cycle, not all whales are willing to risk being left out of an eventual price spike.
Chart proves that whales are undecided about the price of bitcoin
Buying stablecoins certainly puts investors' money in an asset issued by a company that guarantees stability against the dollar. In a bitcoin crash, for example, taking refuge in stable coins could give traders the option to buy more BTC at lower prices.
However, if the investor is positioned in stablecoins and the market appreciates, the investor may have to risk losing the appreciation of their money compared to the Dollar.
And this is what the whales are experiencing, the indecision of positioning themselves in stablecoins and missing out on a possible price appreciation of bitcoin.
Santiment's data, published on X on Saturday (2), shows that many whales are still neutral, which makes it difficult to predict whether they are anticipating new market highs or lows.