Whale Watching: Can whale accumulation signal price moves?
INTOTHEBLOCK:BTC_LARGEHOLDERSNETFLOWS
Bitcoin: Large Holders' netflows (possesing at least 0.1% of the circulating supply)
The activity of large Bitcoin holders (those owning more than 0.1% of the total supply) is a telling indicator for market movements. A positive net flow means they're buying (accumulation), and a negative net flow indicates selling (distribution). Understanding these dynamics can give us a leg up in predicting market trends.
On March 23rd, an intriguing development occurred: large Bitcoin holders increased their holdings by nearly 80,000 BTC as prices lingered around $64K. This aggressive accumulation likely played a pivotal role in nudging Bitcoin back into the $70K territory.
We observed a similar pattern on March 6th, where a significant increase in holdings by these large holders preceded a notable rise in Bitcoin's price.
This indicator is not just a number—it's a snapshot of market sentiment and behavior. By keeping an eye on these large holder activities, we can better anticipate future price movements.
On March 23rd, an intriguing development occurred: large Bitcoin holders increased their holdings by nearly 80,000 BTC as prices lingered around $64K. This aggressive accumulation likely played a pivotal role in nudging Bitcoin back into the $70K territory.
We observed a similar pattern on March 6th, where a significant increase in holdings by these large holders preceded a notable rise in Bitcoin's price.
This indicator is not just a number—it's a snapshot of market sentiment and behavior. By keeping an eye on these large holder activities, we can better anticipate future price movements.
Comment:
On April 2nd, whales accumulated around 33k
BTC
as the price moved down to around $65k. Given the recent pattern described above, positive price movement is a likely outcome
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