These Traders Give Hints About Bitcoin Rally: Is The Bull Over?
According to the latest data, long-term investors who have owned Bitcoin for more than 7 years do not make transfers to stock markets.
An author of the on-chain data and analysis platform CryptoQuant observed the selling movements of ultra-long-term Bitcoin investors in his analysis.
According to the post, under normal circumstances, ultra-long-term investors who have owned Bitcoin for more than 7 years make transfers to stock exchanges in the bull market.
The investors in question intensively moved their Bitcoins to the stock exchanges, especially in the last major bull market between 2017 and 2021.
The analyst stated that under current market conditions, the relevant investor group did not transfer their Bitcoins to the exchanges. This indicates that long-term investors expect a stronger bull market.
Bitcoin and cryptocurrencies have been moving very sensitively to the movements of this group of long-term investors for some time.
It is thought that we are not yet at the peaks of the bull market because these investors have not yet made transfers to the stock markets.
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