우민규 Woominkyu2023-01-15

A relief rally or a real bull market?

Referring to the realized cap over 1M ~ USD UTXO value band as the whales, the largest amount among the realized cap of all UTXO value bands. It is highly expected that they are about to intervene in the market very soon by comparing current market trends with previous market trends as shown in the chart below, Green Line: 7 SMA of 1M+ USD UTXO value band Pink Area: 356 SMA of 1M+ USD UTXO value band A relief rally is highly expected until the 7 SMA reaches the 356 SMA and a real bull market might begin when the 7 SMA breaks above the 356 SMA. As always, the whales seem to be more patient than individual investors and the current situation is not different from the previous cycles. The whales will keep accumulating #BTC sufficiently and disappear at the end of the upcoming bull market again.