For Bitcoin investors, this metric foreshadows ‘oncoming price turnarounds’ - Aliens: AI Crypto News & Markets Updates
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For Bitcoin investors, this metric foreshadows ‘oncoming price turnarounds’

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AMB Crypto

Sat, Jul 02, 2022

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The second financial quarter of 2022 didn’t end very well for Bitcoin [BTC] .

The whale movement has always been a major indicator of Bitcoin price action.

Furthermore, as per data from Glassnode, whales have added over 140,000 BTC per month recently.

Within the extremely challenging #Bitcoin market conditions of 2022, there are three entity cohorts with very interesting dynamics: – Shrimp < 1 $BTC are stacking 🟦 – Whales > 1k $BTC are stacking 🟦 – Miners are distributing 🟥 A thread exploring these entities 🧵1/4 pic.twitter.com/rxYcNxausS — glassnode (@glassnode) June 29, 2022 The update claims that whales now own 8.69 million BTC which is over 45.6% of the entire supply.

That being said, here is a bullish signal posted in a recent Glassnode tweet.

But there’s a major worry on the Bitcoin network as quoted by Glassnode.

The realized cap of Bitcoin reached an eight-month low of $425,757,220,277.8 on 2 July.

This comes at a time when many across the world are expecting (hoping, so to say) for Bitcoin to turnaround.

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