Major Holders Reduce BTC and ETH Balances but Accumulate XRP

The analytical platform Santiment reported an increase in negative sentiment towards the three largest crypto assets. As of November 10, there was 0.82 positive comments for every negative one about Bitcoin, 0.88 about Ethereum, and only 0.49 about XRP on social media. This ratio describes the nature of publications rather than the proportion of investors selling cryptocurrency.

Why Santiment Allows for Recovery

According to Santiment, the predominance of pessimistic messages sometimes precedes a short-term price rebound. Analysts explain this by the fact that negative expectations may already be partially reflected in the quotes. However, the sentiment indicator itself does not confirm the market bottom. Trader Crypto Patel, on the contrary, allows for a decline in BTC to $62,500–65,500 after breaking the $74,914 level.

How the Balances of Major Holders Have Changed

Analyst Ali Martinez reported that over the week, the balances of tracked large Bitcoin wallets decreased by more than 34,000 BTC, or approximately $2.6 billion. For Ethereum, a similar indicator decreased by 17,800 ETH, valued at approximately $40 million. Meanwhile, large XRP addresses increased their total balance by 65.32 million tokens, or nearly $72 million, over four days. Such changes may reflect purchases and sales, but also transfers between wallets, so they cannot be equated to confirmed transaction volumes.

What Is Happening with Cryptocurrency ETFs

On November 10, American spot Bitcoin ETFs recorded a net outflow of $95 million, Ethereum funds – $1.32 million, and XRP – $7.62 million. According to CryptoETF, on November 11, the outflow from Bitcoin funds increased to approximately $299.8 million, and from Ethereum funds – to $144.8 million; for XRP, the net flow was zero for the day. The data reflects the movement of funds through exchange-traded products, not all transactions in the crypto market. So far, the combination of negative flows and ambiguous activity of large addresses does not provide reliable confirmation of a sustainable price reversal.