The BTC accumulation process has begun

in #hive-1679222 years ago

And here we were thinking that we were in the middle of a bear market, saying that the Hive and Leo price are holding nicely despite the huge loss of market cap most projects are going through.

But it turns out that the Bitcoin whales have accumulating Bitcoin since last week on levels we hadn't seen in seven years. IThe firm also says the number of BTC addresses holding 0.1+ coins just reached an all-time high of 3,832,859 on Monday.signalsn 2015 and 2019 we saw this kind of accumulation behavior and in both cases, it signaled the bottom and gave way to two of the biggest bull markets in terms of volume and price hike for cryptocurrency projects. On top of that, the bitcoin bought over six months ago now represents 74% of the realized cap (realize cap means market cap in terms of Profit and Loss realization). During the 2019 bottom the realized cap was 70%, and in the 2015 bottom it was 77%.

Coincidence? I don't think so, but this is not financial advice and it doesn't substitute your own research.

Crypto whales added more than 45k BTC to their bags in less than a week.

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According to Santiment, wallet addresses with 100 to 10k BTC have added 46,173 BTC since September 27. Another thing they noted is that these BTC retail purchases are correlated to the Tether (USDT) supply, for the uninitiated this means that whales are buying BTC with USDT, moving from stable coins to bitcoin in what is the longest sustained Bitcoin accumulation period since May.

This is relevant because between the start of August this year to the end of September, whales’ supply of Tether had been on the rise, and their supply of BTC fell to a multi-month low. A reverse on this trend is what is drawing the attention of the market.

To put things into perspective, in the past week whales accumulated more than $931 million in Bitcoin.

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Whenever there's increased BTC accumulation by whales, the market perceives this as a positive signal that indicates that investors are bullish on an asset and we have some bulls coming.

Now, this doesn't guarantee a bull market incoming, if you use Twitter you will notice whale alert made public that more than 300M USD worth of BTC were moved to the centralized exchange Huobi, signaling that retail sellers might not be done with BTC's bears.

This Bitcoin accumulation can be perceived from speculators as a move that builds bullish momentum from the whales hoping that the US Federal Reserve will pivot away from its aggressive liquidity withdrawal measures.

Finbold, a finance news outlet also reported in September that 47% of Bitcoin holders remain in profit despite BTC’s 60% price drop in 2022, suggesting that many Bitcoin investors are not fazed by the ongoing bear market.

More bullish signals?

Or at least signals that decentralized the biggest crypto asset in town: The number of BTC addresses holding 0.1+ coins just reached an all-time high of 3,832,859 on Monday.

Do what you must with this information, and by what you must I mean you should do your own research.

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The information signal something, if whales has been occupying Bitcoin up to that number, the market may take a change to something else.

Comparing to what whales accumulated in 2015 and 2019 respectively, that means the 74% accumulation this year is not bad, Bitcoin would Spike healthily very soon.

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PIZZA!

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A push up to $21K max... and then back down to $18K...

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I'm not so sure it'll go that way, we'll have to see what happens on the next rate hike

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Spicy! I can't believe that maybe we are close to a bottom in crypto and stock markets. It seems too soon and we did not have some crazy down day as we did in 2008-2009 or even during the Covid period. But who knows!

TheFED will decide when the bottom is in I guess :D

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I am still betting on summer 2023 for the real mumus to arrive, but this is a great signal nonetheless.

TheFED will decide when the bottom is in I guess :D

It's crazy that no matter how decentralized is a token or coin, we are still attached to what a few decide to do xD

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High time to buy? !LOLZ

@tipu curate

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Perhaps! Who knows, all I know is that I'm slowly DCA'ing :D

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Very interested

!PGM
!LUV
!LOLZ

@rocinanteprimo, sorry! You need more $LUV to use this command.

The minimum requirement is 10.0 LUV in your liquid wallet.

More LUV is available from Hive-Engine or Tribaldex

Thanks for the token influx!

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Sent 0.1 PGM - 0.1 LVL- 1 STARBITS - 0.05 DEC - 15 SBT - 0.1 THG - tokens to @rocinanteprimo

remaining commands 1

BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!

The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]

5000 PGM IN STAKE = 2x rewards!

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This goes to prove that a lot of transactions still go on in the crypto space and lots of projects are being made. More is yet to come for the blockchain world.

The bear market is to build and stack!

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I don't find it surprising at all. Thank you for this information though. Many have been taking advantage of the bear market to stuff their wallets and these whales would be no different.

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Interesting figures - I hope you are right ! We could do with some upward movement !

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We will have to wait and see, but I'm still focused on the summer of 2023.

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For those who hodl or day trade, it shouldn't matter if the bulls run sooner or later. Money is there in any market condition?

This post has been manually curated by the VYB Curation Project

Thanks for the manual curation vote!

If you have a long term vision and wallet, these short term fluctuations mean nothing, you're right.

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Unless it's an emergency, the long term goal is always best with crypto...

My pleasure, thanks for the great article :)

My key takeaways:

. . . wallet addresses with 100 to 10k BTC have added 46,173 BTC since September 27.

. . . whales accumulated more than $931 million in Bitcoin.

The number of BTC addresses holding 0.1+ coins just reached an all-time high of 3,832,859 on Monday.

Thanks!

!PIZZA

!CTP

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Truly, the strategic movements of the whales are denoted by their actions, and that is why I am always attentive to what they do. For those who do not know, there is a channel on Telegram that reports daily on the great movements made by the whales, that is, it informs you when the Bitcoin whales transfer money to the exchanges; but also when they extract it from the exchanges to their personal wallets.

As everything moves by supply and demand in the markets, it is essential to have this data, because it is a piece of information that allows us (especially traders) to know where the price of Bitcoin is most likely to move in the future.

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