Massive BTC & Crypto Price explosion ahead! Whales making moves 😎🚀
Whales are setting themselves up for massive long positions on BTC.
Hi guys,
Kierin here, this will be a short but pretty time-sensitive update. I’ve been analyzing whale movements across the crypto ocean over the weekend. Scouring through on-chain data to see what kind of story is unfolding. I must say. What I’m seeing makes me ultra bullish. Share this post with people who are worried because I think they will like what I’m about to share.
If you haven’t already subscribed, this is a sneak peek of a premium newsletter I’m preparing, so I highly recommend that you subscribe and share it with friends.
A quick disclaimer. Even though this newsletter is bullish, filled with hopium, it shouldn’t be a reason to buy or sell. I’m not a financial advisor and in the end, I have no clue what will happen in the market. Don’t get rekt because of me and be sensible. 😅
Let’s start with the sonar to see what the whales are doing… 😬
Exchange Whale ratio
What is super fascinating is when we compare the price, funding rate and the inflow mean of BTC to derivative exchanges.
In other words. Whales are sending a lot of BTC to derivative exchanges in order to set themselves up for long positions. They do this secretly, that’s why there hasn’t been that much price impact so far.
They are smart. But we, especially readers of this newsletter, are smarter. We can see what they are doing.
Miners will lead you to wealth
MPI(Miner Position Index) has a very high hit rate in forecasting the bull/bear market. Miners send a certain amount of BTC to other wallets periodically. Whenever they decided to sell some coins, they move a large number of Bitcoins to other wallets.
If we look at the chart. Miners are not selling at the moment. They believe the price will rise and it’s the bottom.
A lot of dry powder on exchanges
A lot of stablecoins are sitting on exchanges on the sidelines. Many people have been bearish and tried to find safe heaven within stablecoins. This will act like dry powder as soon as the price moves significantly to the upside. The higher the stablecoin ratio on the exchanges the higher the chances that there will be strong buying pressure. In the same sense, there will not be that much selling pressure as there is nearly no BTC or ETH on exchanges.
This leads us to our next chart..
ETH on exchanges has hit a new low.
Where is all this ETH going? Well, my dear readers, people are accumulating ETH and putting it to work on the ETH 2.0 Beacon chain, locking it up in DeFi as well as sending it to hardware wallets.
New low for ETH exchange reserves. People are hoddling. ETH is becoming scarce. Let’s see where this takes us.
The only thing I will be monitoring in the next few days is the Netflow to exchanges. In other words how much BTC is sent in a small amount of time to the exchanges as that could signal a trap. But let’s see. The other indicators are showing a bullish picture.
Hope you enjoyed this. Share this! It helps me out a lot.
Catch you in the next one
Kierin