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 👇
These Long Term Holders are partly made up of Smart Money and Whales 🎯
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
⭐️ What do we notice?
We clearly see that these Holders sold absolutely nothing in 2023 👇
The year in which $BTC recorded a large part of its rise linked to the #Bitcoin ETF rumor
However, one element clearly stands out 👀
These Holders have 𝗺𝗮𝘀𝘀𝗶𝘃𝗲𝗺𝗲𝗻𝘁 𝗽𝗿𝗶𝘀𝘁 𝗱𝗲𝘀 𝗽𝗿𝗼𝗳𝗶𝘁𝘀 in early 2024 (~1M $BTC!)
This coincides perfectly with the acceptance of these famous ETFs ✅
Once again, the most popular adage of the financial markets has proven true be true:
“𝗕𝘂𝘆 𝘁𝗵𝗲 𝗥𝘂𝗺𝗼𝗿. 𝗦𝗲𝗹𝗹 𝘁𝗵𝗲 𝗡𝗲𝘄𝘀”
Well, now that we’ve seen that..
⭐️ What is the meaning of this word?
According to the chart, we are seeing a clear change in trend at the moment 👇
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) 🎯
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 🥇
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 👇
Curious to have your opinions on th,Oouis little analysis!
#MarketDownturn #CARVingTheFutureOfData
Have a good week-end everyone 🔥
