Bitcoin Elite Still Dumping, While Retail Expects Pumping...
📉 Bitcoin is down to $101.8K, now concerning traders with the prospect of the asset dropping below $100K for the first time since June 22nd. 🐳 Whales and shar
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📉 Bitcoin is down to 100K for the first time since June 22nd.
🐳 Whales and sharks holding 10-10K $BTC hold 68.5% of Bitcoin's supply, and have dumped 38,366 coins since October 12th (a -0.28% drop).
🦐 Shrimps holding <0.01 $BTC hold 0.25% of Bitcoin's supply, and have accumulated 415 coins since October 12th (a +0.85% gain).
📊 In short, bulls need to see this trend completely flip in order to expect a sustained price rebound for all of crypto. Markets rise when key stakeholders accumulate the coins that small wallets shed.
👋 Micro traders (shrimp) need to show capitulation and fear, losing patience and selling off their coins at a loss as whales scoop them up and begin reaccumulating. When this happens (and it will), it will signal a market bottom and an ideal time to buy. We will keep you posted when signs of this become clear.
🔖 Keep tabs and bookmark this Santiment chart to see when this bearish pattern flips to bullish.
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