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The volume of BTC holdings by whales reaches a new all-time high
According to Cryptoquant data, BTC whales currently hold approximately 670,000 BTC, which is the highest value in history. Undoubtedly, this is a long-term optimistic signal.
From the chart, it can be seen that when the number of whales is at a high level, BTC tends to show a sideways trend or a moderate fall in certain parts. This accumulation phase can be described as the calm before the medium to long term storm.
The true rise of BTC begins when the Whale gradually decreases its participation until the percentage change is negative. Finally, if the highest point in the history of BTC is not updated before the US presidential elections until November 28 (+/- 21 days), this will indicate serious problems in the current bullish cycle, which will be very bad.
#BTC