Bitcoin Accumulation Whales Usually Never Fails
🐳 As May progresses, Bitcoin's key stakeholders are mostly moving in the right direction if you're rooting for $100K $BTC in the near future.
Wallets with the highest correlation with crypto's overall market health (10-10K BTC wallets) have accumulated a combined 81,338 more BTC (+0.61% of their holdings) during these past 6 weeks of volatility.
Meanwhile, small wallets that tend to have an inverse, lagging correlation to price (<0.1 BTC wallets) have dumped 290 BTC (-0.60% of their holdings) in the past 6 weeks.
When large wallets gradually accumulate in tandem with retail panic selling/selling out of boredom, it is generally a strong long-term sign of prices biding their time before another breakout. 👍
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Vitalik's "Can't Be Evil" Roadmap: The New Role of Privacy in the Ethereum Narrative
While the market is still chasing the ups and downs of "privacy coins," Vitalik has already placed privacy on the technical and governance roadmap for Ethereum over the next decade.
6% APY? Aave App Enters Consumer Finance
In an era where interest rates are below 0.5%, the Aave App aims to put 6% into the pockets of ordinary people.
Cryptocurrency incubator Obex raises $37 million.
Revolut has integrated Polygon as a primary infrastructure for crypto payments.
Trending news
MoreCrypto prices
More
