ARK's report has some good stuff.
It says that in Q1, Bitcoin dropped by 22%, but those "conviction buyers" didn't panic; they ramped up their holdings from 2.13 million to 3.6 million <a>$BTC </a>, increasing by nearly 70% 📈
I checked out the definition of these "Conviction Buyers"; they are the long-term holders who don’t sell and keep their coins for over a year.
Despite the 22% drop, they scooped up 1.47 million coins, marking the biggest increase since 2020.
While retail traders are screaming about the dip, the big players are quietly accumulating.
Whether it's a bear market or not depends on who's making moves.
It says that in Q1, Bitcoin dropped by 22%, but those "conviction buyers" didn't panic; they ramped up their holdings from 2.13 million to 3.6 million <a>$BTC </a>, increasing by nearly 70% 📈
I checked out the definition of these "Conviction Buyers"; they are the long-term holders who don’t sell and keep their coins for over a year.
Despite the 22% drop, they scooped up 1.47 million coins, marking the biggest increase since 2020.
While retail traders are screaming about the dip, the big players are quietly accumulating.
Whether it's a bear market or not depends on who's making moves.