In the meantime, $BTC supply on known exchange addresses looks like it's in a free fall Yesterday, someone made a $1,3 billion withdrawal from Coinbase in a single transaction.. The bull run is just getting started
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Diversitas is a well-diversified crypto strategy with the majority of its holdings in the top 50 cryptocurrencies by market capitalization. The strategy is actively managed while the number of rebalances varies depending on the market movements. When rebalancing the strategy, technical analysis, media attention, historical patterns, blockchain metrics, and upcoming announcements are taken into account.
Corrections like this are normal after such a big rally! Nothing to panic about, the trend is obvious In my opinion this is simply a shake-out to accumulate more coins.
This can be observed also by looking at the on-chain data, over the past 10 days, the whale wallets accumulated over 40,000 $BTC As mentioned already many times, the bull run is far from over
Have a great day!
Just a quick update:
The market is finally moving the way it should and indicators are starting to make sense again. I guess the whales have finished accumulating and manipulating it. Good times ahaid as the shorts are staring to get squeezed
Last but not least, the indicators on-chain analysts use are getting better every week so I believe that this will be an incredibly helpful tool in months and years to come. And by the end of this bull market, the on-chain analysts are going to be the ones laughing at others!
So why didn’t the on-chain analysts predict this recent drop? Mostly, because it looks like the market cycle is not over and we are seeing just a big correction before the next move up!
Furthermore, I think it is important to combine on-chain data with the news and overall market which looks extremely bullish at the moment. The news that is coming out is mind-blowing as you see strong adoption taking place. In my view, selling when you see big financial institutions like ArkInvest accumulate simply doesn’t make any sense! I like to follow smart money and not trade against it
That being said, before I go on vacation, I would like to take some time to talk about the on-chain analysis. Lately, people were making fun out of on-chain analysts and saying that this data is useless and doesn't work.
In my view, on-chain is great for predicting the trends but not short-term price movements. So it can be useful if you are a long-term investor and not a trader. In other words, when data shows you that the whales are starting to accumulate, it is extremely hard to predict how long the accumulation will last before the next move up. It can be weeks or even months so it is tricky to trade this kind of scenario. What you can do is simply hold and wait for the move as it will inevitably come. It’s not a matter of if it is a matter of when and this is the case at this exact moment.
Today is the last day of updates before my vacation meaning that there will be no updates in this kind of form for 12 days! I will post some short comments but not long for updates as I will do my best to spend some time away from the computer
If anyone wants to read an in-depth on-chain analysis, I would suggest you read the one from Glassnode, they have done a great job analyzing the market for a bull as well as a bear case!
The current Mayer Multiple is 0.66 with a $BTC price of $29,652.96 and a 200 day moving average of $44,664.40. The Mayer Multiple has historically been higher 92.91% of the time with an average of 1.45 This clearly shows how extreme this correction is. If you believe in the long-term success of crypto, now should be a good time to buy!
This is of course not financial advice but I’m loading up at those levels since I still believe this bull run is far from over! In my view, BTC will reach 100k by the end of the year