The addresses of long-term Bitcoin holders have accumulated 85,000 BTC in the past 30 days. These wallets are neither ETFs, exchanges, nor miners. In the same period, the Bitcoin spot ETF address has recently outflowed 16,000 BTC.

After the ETF was passed, these long-term investors were selling, and they have been selling for several months. They have just started to stock up again, which is one of the reasons why I sold in the past few months. I cleared out the altcoins in February. First, I felt that the sentiment could not continue. The altcoins only had quarterly quotations. Second, I felt that there was no innovation in this round of altcoins. Third, I saw that long-term holders of big cakes had started to sell for a while. Afraid of a callback.

The behavior of this group seems to be very rational as a whole, and they usually become the terminators of the trend. They start buying in a weak market, accumulate for a few months, buy the market into an upward trend, and then start selling when the market reaches the top. After selling for a few months, the market really peaked. #BTC下跌分析