The current sentiment in the Bitcoin market bears a striking resemblance to the period in mid-2020, when the cryptocurrency stayed near the $10,000 mark for half a year with high on-chain activity. This period, characterized by over-the-counter transactions, ultimately proved to be a significant turning point in Bitcoin's market trajectory.

Fast forward to the present, and despite lower price volatility, on-chain activity remains high, with a notable increase in whale wallet activity. According to Ki Young Ju, CEO of CryptoQuant, approximately $1 billion is being added to new whale wallets daily, signaling that large holders are still actively engaged in the market and are likely holding onto their assets.

This significant whale wallet activity is a testament to the enduring strength of the Bitcoin market, as large holders continue to maintain their positions and engage in the market. The high on-chain activity, coupled with the steady influx of new whale wallets, underscores the market's resilience and the ongoing confidence of investors in the cryptocurrency.

In conclusion, the current market sentiment in Bitcoin bears a striking resemblance to the period in mid-2020, characterized by high on-chain activity and whale wallet activity. This similarity suggests that the market is poised for continued growth and stability, as large holders remain actively engaged and investors continue to maintain their confidence in the cryptocurrency.