Parabolic
Parabolic 2 minutes reading from Bitcoin

Whales Are DCA'ing – A BOTTOM?

Some say BTC TO 12K, others NOW IS A BOTTOM! 🤦

On the key support levels I love watching if whales buy

And there's is a slight uptick in whale accumulation.

It's not a 🟢 light to me, rather an indication that bears will have to try harder

MORE ⬇️⬇️⬇️

We saw a drop on exchange supply balance on September 28

Now if we look at the supply distribution, I see an interesting thing in very large wallets (100k - 1m BTC). There was a spike on September 28, the same day that supply on exchanges dropped.

There’s also an uptick on 1k-10k and 100-1k wallets just before or on the Sept 28

But the supply 10k - 100k BTC on wallets showed a decline contradicting other whales.

If I merge the stats of all whale wallets starting at 100 BTC per wallet, then we can notice a slight uptrend which started just before Sept 28.

If you zoom out you can see that the uptick is very tiny.

Plus the chart below with whale transaction count shows that the amount of transactions are pretty low, and whales aren’t very active.

Overall, I believe whales are just DCA'ing, and they will continue doing so with larger sums if we go lower.

This post is based on this twitter thread.

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