So, crypto analyst Willy Woo is monitoring retail traders of Bitcoin (BTC). Then, notice something new right from the Covid-19 crash of March 2020.
Furthermore, Willy Woo reveals a chart showing the amount of BTC that retail traders are accumulating.
Also, as per the chats, retail traders are buying up Bitcoin’s current market correction with immediate response. Of course, following the same pattern during the pandemic crash last year.
“The last time retail bought the dip this hard was at the bottom of the COVID crash. Probably nothing…”
More so, Willy Woo goes on to indicate how a chart shows how Bitcoin HODLers are massively buying the dip.
“Buying the dip visualized (spot volumes seen on-chain)…”
“It has been happening, it’s moderate, but most importantly,..”
“as yet [there are] no signs of a further sell-off cascade.”
“Also worth keeping in mind longs have already been flushed.”
Additionally, Willy Woo revelations are coming right after saying that when long-term holders (LTHs) reach peak accumulation, that BTC may ignite a strong rally. Thereby, allowing long-term holders to pack up their holdings to a new batch of short-term holders.
So, as per Willy Woo data,
“Long-term holders are at their peak, and so generally when we’re this zone,..”
“you’ve got peak accumulation. These guys tend to sell down in the rallies.”
“You saw that in the last rally from October last year, and when they run out of ammo,..”
“the short-term holders hold those coins, generally the new weak hand investors…”
“We’re in the strong area that has been selling down meaning they have instigated taking profits.”
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