Whale Watching: Can whale accumulation signal price moves?
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.
Note
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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.