On November 21, the lowest BTC dropped to $80,600, with on-chain losses reaching a historical record, and market sentiment was at an extreme level of panic. At this moment, we discovered that a whale entity suddenly increased its holdings significantly, an anti-human operation that was completely misunderstood at the time.
Almost everyone believed that 80k could not hold, and 70k even 60k BTC were already beckoning to us. Who would rush to buy now? Through our inquiries, we found that a super whale holding 10,000 BTC was increasing its holdings. If we find this unbelievable, then there are even more unbelievable things happening next...
According to the accumulation trends of wallet groups, the current four main on-chain whale groups, namely those holding 10-100, 100-1k, 1k-10k, and >10k BTC, are all in an accumulation state. Especially the 1k-10k and >10k groups, which began to distribute heavily since the beginning of October, have gone through nearly two months of correction and are now starting to accumulate again.
The groups holding between 100 and 1k are still accumulating, meaning that after October, there have been significant behavioral phases among several whale groups, with some believing the bull market has ended and exiting, while others continue to accumulate. Now they seem to have reached a consensus again.
This reflects the wallet data from the past 15 days, excluding addresses from exchanges and miners, meaning that the data organized by Coinbase in recent days is not included. Therefore, this should be a positive phenomenon, and if it can be maintained, it will have an extremely important impact and help in rebuilding the bull market structure.
