According to Cryptoquant, bitcoin whales currently hold around 670,000 bitcoins, which is the highest value ever. Undoubtedly, this is an optimistic long-term signal.
As can be seen from the chart, when whale holdings are high, Bitcoin tends to show a sideways or local mild downward trend. This accumulation phase can be described as the medium- to long-term calm before the storm.
The real growth wave in Bitcoin starts when the whales gradually reduce their holdings until the percentage change in holdings becomes negative. Finally, if Bitcoin's all-time high is not updated between the US Presidential Election and November 28 (+/- 21 days), this would indicate that there are serious problems with the current bull cycle and things will go badly.
Bitcoin whale holdings hit a record high
2024-10-24 16:50:24
Cryptoquant data current bitcoin fish holdings 67000000 bitcoindesk3cryptocurrencydesktopCrypto News
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