Paper hands & leverage traders sold! $3 Billion Liquidated
Bullish: Whales & long-term holders have been accumulating BTC and other cryptos
Hi friend,
Red days like these are never fun. 🤬
But the good thing is that days like these also offer a bunch of opportunities, such as looking at the technical and on-chain side of things to better understand where the market will move next.
The crash that we experienced yesterday was mainly due to leverage traders being liquidated by whales. The fundamentals haven’t changed in the long run.
Looking at on-chain data, we get a very interesting picture: the sellers have mostly been new wallets. In other words, paper hands have been shaken out.
In the image below you can see that long-term Bitcoin Holders, from 3 months to 3 years, have been accumulating during these dips. Whereas, buyers that have bought within the last 3 months have been selling.Â
source:
Now, technical and on-chain analysis are very powerful tools to better understand where we’re standing in a market cycle.
For instance, knowing that the selling wallets are mostly newer ones is a sign that this is just a shakeout of weak hands.
Information such as this is just what you’ll get on a weekly basis as a DeFire Academy member. Only in much more detail!Â
We’re super excited to announce that the DeFire Academy will launch on September 9 at 3 pm UTC.
We’re opening up with a Super Early Bird option that gives you a whopping 50% discount over the regular price.Â
There are only 20 Super Early Bird spots!
So, if you want to profit from this bargain, make sure to be ready tomorrow at 3 pm UTC and get a one-year subscription for $499 instead of $999 (please note that this option is only available as a yearly plan).
You will receive another email tomorrow right before the launch so you don’t miss it.
We can’t wait to welcome you as a member of the DeFire Academy. 🤗
Talk to you soon!
Kierin