And this time, it was clearly predictable
The graph below shows us the amount of $BTC held by Long Term Holders since the end of 2021 ๐
These Long Term Holders are partly made up of Smart Money and Whales ๐ฏ
And historically, they are the ones who make the most of the profits on the market!
We also see the price of BTC (black line) over the same time interval
โญ๏ธ What do we notice?
We clearly see that these Holders sold absolutely nothing in 2023 ๐
The year in which $BTC recorded a large part of its rise linked to the #Bitcoin ETF rumor
However, one element clearly stands out ๐
These Holders have ๐บ๐ฎ๐๐๐ถ๐๐ฒ๐บ๐ฒ๐ป๐ ๐ฝ๐ฟ๐ถ๐๐ ๐ฑ๐ฒ๐ ๐ฝ๐ฟ๐ผ๐ณ๐ถ๐๐ in early 2024 (~1M $BTC!)
This coincides perfectly with the acceptance of these famous ETFs โ
Once again, the most popular adage of the financial markets has proven true be true:
โ๐๐๐ ๐๐ต๐ฒ ๐ฅ๐๐บ๐ผ๐ฟ. ๐ฆ๐ฒ๐น๐น ๐๐ต๐ฒ ๐ก๐ฒ๐๐โ
Well, now that weโve seen that..
โญ๏ธ What is the meaning of this word?
According to the chart, we are seeing a clear change in trend at the moment ๐
Indeed, LT Holders have been accumulating BTC again for a few weeks now.
They are taking advantage of the capitulation to buy at "discount prices" while the general public panics (Fear and Greed in the red zone) ๐ฏ
Smart money accumulates when mass capitulates,
To conclure, we still have an element that leads us to think that the best is yet to come ๐ฅ
It is obviously necessary to compare it with other relevant elements to complete the analysis..
And let's not forget to qualify the statement given the uncertain macroeconomic situation..
This is what I had to share with you today ๐
Curious to have your opinions on th,Oouis little analysis!
#MarketDownturn #CARVingTheFutureOfData
Have a good week-end everyone ๐ฅ
