It might seem that BITCOIN is holding up quite well under the onslaught of recent events. It is clear that BITCOIN and the rest of crypto are being used much more these days due to the economic measures taken regarding the Russo-Ukrainian conflict.
However, the TOP 100 Richest BTC addresses seem to be changing their cumulative strategy and this last week I have detected a substantial reduction in the BTC Bougth versus BTC Sold ratio.
Even these whales are buying 4 times more than they sell but many of them are increasing their sales lately...
I don't like the situation at all, on the one hand it is good that there is liquidity and that these whales leave a bit of ballast, I almost see it as good... on the other hand, the use of BTC as a means to obtain dollars puts a little in danger the current price level.
Some of the owners of these wallets must have their residence in the places or countries in conflict and this may be the reason why their accumulation has been stopped.
Again, this does not have to be a negative market alert but it is possible that we will see prices fall towards more tempting levels for the rest of the world.
Meanwhile, BTC is proving to be an excellent "vehicle" for moving value across borders as well.
We'll see...
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Posted Using LeoFinance Beta
