Wallets holding 0.01-0.1 BTC increased in recent correction...retail investors?

Citing data from Glassnode, crypto media outlet Cryptoslate reports that “wallets holding 0.01-0.1 BTC have seen a distinct increase in the volume of holdings during Bitcoin's recent short-term correction. This suggests that retail (individual) investors have become more active in buying,” the analysts said. “While whales and institutional investors with large BTC holdings based on on-chain data are reacting to arbitrage or market trend changes, reducing their holdings over the past month to manage risk, smaller holders are doing the exact opposite. They are buying more BTC during bearish phases, signaling their confidence in a rebound.”