Bitcoin whale holdings hit all-time high

BlockBeats news, October 25, according to Cryptoquant data, Bitcoin whales currently hold about 670,000 Bitcoins, which is the highest value ever. There is no doubt that this is an optimistic long-term signal.

As can be seen from the chart, when whale holdings are at a high level, Bitcoin tends to show a sideways or localized mild decline. This accumulation phase can be described as the calm before the storm in the medium and long term.

The real growth wave of Bitcoin begins when whales gradually reduce their holdings until the percentage change value of holdings becomes negative. Finally, if the historical high of Bitcoin is not updated between the US presidential election and November 28 (+/- 21 days), it will indicate that there are serious problems with the current bull market cycle and things will get bad.