Theo Glassnode, the majority of #BTC investors are currently distributing Bitcoin.
This also reflects the recent period when there has been a lot of information surrounding whales offloading Bitcoin.
Looking at the chart, it shows that wallets holding over 10k BTC are distributing the most, and wallets holding under 1 BTC are also distributing heavily. The rest are mostly in a neutral position or distributing lightly.
#Bitcoin #BTC #Ethereum #ETH #SOL #BNB #SUI
#BTC Bitcoin has returned to the green after 3 consecutive weeks of red, with 2 consecutive green candles helping Altcoins recover significantly over the past 2 weeks.
Currently, with the bulls easily surpassing the previous red candles, #BTC is likely to trend sideways in the short term around $113-117k, with potential Pump and Dump movements surrounding the news of the Fed's interest rate cut this week. Starting today, I advise everyone to limit Long and Short positions around 2-3 days before the Fed announces news, as it can easily sweep both ends. Some Altcoins that are in a bullish structure may continue to benefit from further increases while $BTC trends sideways and BTC dominance continues to decrease towards the 55-56% mark.
The interest rate cut is something everyone is aware of, so if there is a "Sell The News" reaction, it might just be due to the Fed chair's hawkish remarks... Like reducing rates out of fear of recession, for example... So during this time, if anyone is buying or selling, just wait for Mr. Powell to finish speaking and then decide after the news is out. 😄
#Bitcoin #BTC #Ethereum #ETH #SOL #SUI #BNB #SEI #APT #BERA #ZRO #ZK #STRK #OP #ARB #PEPE #EIGEN
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