BTC Whales are back and they are accumulating

vlemon in #hive-167922 • 3 years ago

Hi HODLers,

Despite the small recent drop, it seems that I have a few good news for you.

Whales seemed to have started accumulating more Bitcoin since mid-January as you can see in the graph below

Bitcoin supply in addresses greater than 1,000 BTC. Source: Coin Metrics, Messari

Are we about to witness another leg up as in Nov 2021?

Data from Ecoineometrics shows that Bitcoin whales and fishes (less than 1 BTC) are showing a syncchronous accumulation behavior. If it continues, this is very positive!

As the analyst states it:

“I don’t know if this signal is going to continue being predictive of a sustained rally, but hey, for now it is working fine.”

We are also witnessing a rise in inflow across crypto funds as capital injections have 4x to $85bn with the majority ($71bn) flowing to Bitcoin investment products.

You can find CoinShares' report here

What levels are traders looking at?

If you have read me for a while, you would know I am the worst trader out there so luckily for you this is not my analysis but a broad summary of what professional traders are looking at

I hope these information were helpful to you as they were to me, it helps sometimes to have a bigger picture and relax to think about how far we've come !

Stay safe out there,

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#bitcoin #trading #cent #cryptocurrency #mancave #neoxian #vyb #proofofbrain #ctp #archon #hive #defi #leofinance

3 years ago in #hive-167922 by vlemon

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fabian98 3 years ago

It could also be a good time to accumulate alts with upside potential such as LUNA.

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vlemon 3 years ago

I think it could indeed be smar to accumulate any serious crypto out there (FTM, ETH, HIVE…)

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antoniojoseha 3 years ago

It will be a long trip, I'm still closing my eyes and waiting a couple of months, but good news are good news

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cristina-zac 3 years ago

This is a very good sign

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acesontop 3 years ago

Whales accumulating is good for the price, but not so good for the distribution of Bitcoin.

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stefano.massari 3 years ago

You said well

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vlemon 3 years ago

Indeed but on the 2nd graph, it shows that for the past weeks both fishes 🐠 and whales 🐳 have been buying. Quite bullish !

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acesontop 3 years ago

True. Let the fish rise and rule :D

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williamtboy 3 years ago

Crypto is really selling this night. I don't know were the direction of Crypto is facing this year.

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vlemon 3 years ago

Well Nasdaq and stock market has been crashing too. I guess we are following Wall Street 😅

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williamtboy 3 years ago

Yes

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stefano.massari 3 years ago

I thought Bitcoin made a double low of $ 30,000, but it didn't

vlemon 3 years ago

Well it made a « single »low you mean ? You expected Bitcoin to test 30k again ? It might do it, who knows !

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stefano.massari 3 years ago

I would have expected Bitcoin to test $ 30,000 again, but it made a nice rebound. Right now I find it hard to get back to $ 32,000 / $ 30,000 again

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finguru 3 years ago

Pump it!

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vlemon 3 years ago

Haha 😂 I only wish !

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vlemon 3 years ago

I did ! Can’t you see my $10 market buy !? 😅

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finguru 3 years ago

DCA for the win. 😋😋

whalemon!

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jfang003 3 years ago

Well I don't know if this is a good thing or not. It does seem right that 46k is the resistance that BTC has to pass before it can go further too.

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poshtoken 3 years ago

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l337m45732 3 years ago

For the first time ever, I was right about this little pump. Dead cat bounce. Yay me. Now if only I knew how to trade lolol

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vlemon 3 years ago

Dead cat bounce ? So you think we are going lower, probably right though 😅

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l337m45732 3 years ago

Yeah, at least a little bit lower. But also I have no fuckin clue so you know. Take that for what it's worth lol

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vlemon 3 years ago

Don’t ask me trading tips, because I dit have any haha 😂

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cryptictruth 3 years ago

I’m a pretty bad trader I need to be more careful.

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vlemon 3 years ago

Always invest ina way that makes you sleep well at night. This is my only financial advice 😉

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cryptictruth 3 years ago

Facts

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