Smart #Bitcoin    investors are leaving in droves.

This began not with GBTC sales, or during the ETF launch, but months before that in October 2023 at prices like 28k.

The Fish, which are addresses that hold between 10 and 100 Bitcoin, have accurately risen sharply at local lows and declined near highs, showing that they are the smart investors.

From the cycle lows of 16 - 18k, these address bands increased rapidly.

Now, even with all of the supposed this time is different talk, they are leaving.

Smart investors say, this is not the time to enter Bitcoin, and hasn't been for quite some time. Lower prices may bring their return.