Bitcoin Accumulation Whales Usually Never Fails
š³ As May progresses, Bitcoin's key stakeholders are mostly moving in the right direction if you're rooting for $100K $BTC in the near future.
Wallets with the highest correlation with crypto's overall market health (10-10K BTC wallets) have accumulated a combined 81,338 more BTC (+0.61% of their holdings) during these past 6 weeks of volatility.
Meanwhile, small wallets that tend to have an inverse, lagging correlation to price (<0.1 BTC wallets) have dumped 290 BTC (-0.60% of their holdings) in the past 6 weeks.
When large wallets gradually accumulate in tandem with retail panic selling/selling out of boredom, it is generally a strong long-term sign of prices biding their time before another breakout. š
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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