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π Bitcoin's jump to a high of $97.8K Wednesday appeared more than justified based on continued smart money accumulation, and retail traders dumping. π Updatin
Not financial advice. DYOR.
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π Bitcoin's jump to a high of $97.8K Wednesday appeared more than justified based on continued smart money accumulation, and retail traders dumping.
π Updating our report from last week, the latest updated chart has 5 color codes:
π₯ Whales dumping, Retail accumulating (VERY BEARISH)
π§ Whales dumping, Retail unpredictable (BEARISH)
π¨ Whales & Retail particularly unpredictable or moving sideways (NEUTRAL)
π¦ Whales accumulating, Retail unpredictable (BULLISH)
π© Whales accumulating, Retail dumping (VERY BULLISH)
π³ Since January 10th, whales & shark wallets holding 10-10K Bitcoin have collectively accumulated +32,693 $BTC, a +0.24% rise to their collective bags.
π¦ Since January 10th, shrimp wallets holding less than 0.01 Bitcoin have collectively dumped -149 $BTC, a -0.30% deduction to their collective bags.
π§ The signal here is that smart money is finally buying consistently, while micro money bows out. This is the ideal setup for a bull run. How long it lasts depends on how long retail doubts the mini rally that has formed. For now, the "Very Bullish" green zone continues.
π Track how smart money vs. micro money is behaving on crypto's top networks by bookmarking this handy chart link from Santiment.
Not financial advice. DYOR.
