Behaviour of the 100 Richest BTC Addresses: BULLS/BEARS Equilibrium...

in blurtech •  10 days ago 

Predictably, as soon as the price of BTC rises, the number of sellers and the amount of BTC they sell increases.
However, although the trend in sales increases, the amount of BTC sold by the TOP 100 Richlist BTC ADRESSES is still considerably lower than those that have been bought during the last 7 days.
Let's see the summary extracted from https://bitinfocharts.com/ :

Weekly Status of Top 100 BTC addresses

Number of Addresses buying still higher than the ones selling

image.png

  • Of the 100 richest addresses only 17 have been active during the last 7 days, 11 of which we can qualify as "BUYING" and 6 as "SELLING" addresses
  • The number of active addresses have decreased from 18 to 17.

image.png

  • The graph above denotes that the amount of BITCOIN bought by the top100 is still a little bit higher than that sold, but the trend is indicating a further decline.

In this situation, we could say there is a change on the trend of the weekly behaviour of the Top 100 Richest addresses which is pointing towards the selling area but still not sufficient to justify a total change of trend.

Monthly Status of Top 100 BTC addresses

image.png

  • only 27 out of 100 BTC Richest addresses have been active for the last 30 days, 17 "BUYING" addresses and only 10 "SELLING" addresses.

image.png

  • In total these "WHALES" have bought 68247 BTC (about 3,685,338,000 $ at the current prices) and 51862 BTC have been sold, ie, the amount of BTC being Bought is 1.32 times higher than the sold by these Top Addresses. However, the decrease in the trend is evident, last week this proportion was 2.8 in favour of the BULLS

Given both, the weekly and monthly data of the Top 100 Addresses, my feelings is that we are in a kind of "EQUILIBRIUM BETWEEN BUYERS AND SELLERS", with a tiny trend in favour of the Sellers but still not sufficient to declare a BEARISH Scenario. I would maintain the BULLISH Case but we have to keep checking the behaviour on the short term (weekly trend) in order to see more evident signals of bearish movements provided by these whales and react consequently.


@toofasteddie

*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.

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