$BTC has broken out of its 4-month range and dipped below its last support level, leading to significant changes in ownership. We could say that the cards are being reshuffled. With the price dropping below the support level, we saw whales quickly turning to buy. They made some purchases in this region, continuing to maintain their #Bitcoin holdings despite the declines.
Meanwhile, small investors are still selling, and their #BTC holdings are continuously decreasing. This indicates a rotation from small investors to larger ones.
Whales might be buying because they believe the price won't stay below the support level for long, but it's not wise to base decisions on a single piece of data. We need to see at least a few signs of a reversal.I will keep updating the data frequently, friends. Wishing everyone a great day and plenty of profits. #BinanceTournament
Additional Thought
In such market movements, especially with a volatile asset like Bitcoin, the actions of whales can often set the trend. However, investors should consider overall market dynamics and macroeconomic factors, not just the movements of large investors. Despite short-term fluctuations, long-term investment strategies are generally a safer approach.
