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 đ
These Long Term Holders are partly made up of Smart Money and Whales đŻ
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
âïž What do we notice?
We clearly see that these Holders sold absolutely nothing in 2023 đ
The year in which $BTC recorded a large part of its rise linked to the #Bitcoin ETF rumor
However, one element clearly stands out đ
These Holders have đșđźđđđ¶đđČđșđČđ»đ đœđżđ¶đđ đ±đČđ đœđżđŒđłđ¶đđ in early 2024 (~1M $BTC!)
This coincides perfectly with the acceptance of these famous ETFs â
Once again, the most popular adage of the financial markets has proven true be true:
âđđđ đđ”đČ đ„đđșđŒđż. đŠđČđčđč đđ”đČ đĄđČđđâ
Well, now that weâve seen that..
âïž What is the meaning of this word?
According to the chart, we are seeing a clear change in trend at the moment đ
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) đŻ
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 đ„
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 đ
Curious to have your opinions on th,Oouis little analysis!
#MarketDownturn #CARVingTheFutureOfData
Have a good week-end everyone đ„
