📈 There has been a consistent trend in the market over the last 10 years. While amateurs and small investors have been selling their bitcoins during the sideways and bearish cycles, whales have been steadily increasing their bitcoin deposits. This trend has never given any reason to doubt its reliability in all the years of observation.
And now, the whales with wallets over 10K $BTC again promoted its trend indicator by an accumulation of more than 0.5. And this is a clear sign of sustained bitcoin buying by bitcoin wallet owners above 10K BTC.
Moreover, of all the existing groups of bitcoin holders, they are the only group that shows a decisive accumulation, while smaller holders are still net sellers.
In other words, from our point of view, quite wealthy bitcoin holders with a volume of 10 BTC, which is equivalent to $850,000, or owners of portfolios over 100 BTC (and these are dollar millionaires with bitcoin ownership equivalent to more than $8 million dollars) are now selling their reserves.
And what's most surprising is that the owners of wallets from 1,000 BTC to 10,000 BTC, which equates to an amount of $80 million to $870 million, and these are almost billionaires on the Forbes list, are still selling their bitcoin reserves right now.
These people have no problems with money, but their bitcoin wallets are thinning right now due to fear and disbelief in bitcoin.
However, the richest bitcoin 🐳kits, the real billionaires, are filling their wallets at times like these, quietly buying up spare bitcoins from weak hands without using many centralized exchanges.
Another remarkable fact. Whales don't usually hide their wallets, the blockchain is open and they do not intend to split their bitcoin deposits into hundreds of smaller wallets to hide their actions.
Thanks to Glassnode we can easily track their behavior and then make a decision.
💡Should we follow the path of the richest people on the planet and buy bitcoins anytime others are selling and your favorite influencers and great economists are predicting - bitcoin will be 0️⃣. Or is it better to follow the billionaires❓
For the first, from the Sect of Witnesses (BBN) Bitcoin Will Be Zero, there is official information about Trump's decision not to spend taxpayers' money to create a bitcoin reserve, and there is other information about the whales from the same open sources.
Yes, the US at the federal level will not buy bitcoin with taxpayer money, but at the state level they will. It became known, that more than half of US states (26 of 50) have introduced bitcoin reserve bills that propose directing up to 10% of public funds into cryptocurrency.
Wisconsin led the way by becoming the first state to purchase a bitcoin ETF, raising $588 million.
Here's more whale news. Over the past three weeks BlackRock increase the value of its BUIDL tokenized asset fund in THREE TIMES! to 1.87 billion dollars! Mainly thanks to ETH. And all this at a time when memes are being posted online about withered old man Vitalik Buterin and Ether's funeral.
But you can continue to behave like a poor person, give in to emotions and sell bitcoins. Because the poor always behave like the poor and the rich behave like the rich. 🐋