Whales have found a great accumulation opportunity at the current price level.
For example, just yesterday, one of them registered an input transaction of almost 95000 BITCOINS suddenly placing itself at number 5 of the Top100 Richest Wallets in BTC.
Over the last 7 days, these whales have bought a total of 206,539 BTC and sold "only" 18,254. This represents a BTC Bought versus BTC Sold ratio of 11 to 1.
The whales are in Full-Accumulation Mode and it is shown in the BITCOIN dominance chart that has risen 8% compared to its previous lowest value... obviously, rising 8% means that the dominance has passed 39% to 43% which is far from what BITCOIN was in the past.
Surely we will not see BITCOIN dominating the market above 50% share at least for a long time, so dominance change values between 3 and 10% are now good indicators of the market phase.
Remember, BTC goes up first, then Major ALTCOINS and then everything else...
I still think that this BULL Market is not over, as long as the big ones see it as attractive we will go up...
*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
