Major BTC Investors Are Not Bearish On Bitcoin And Here’s Why

The major BTC investors are not bearish at all on Bitcoin despite the recent drop. Since the yearly peak, the number one cryptocurrency plummeted by 17% but most investors are not fazed so let’s find out why in today’s Bitcoin news.

There are a few reasons why whales and major BTC investors are not bearish in the medium-term. Before the drop happened, the derivatives market was overheated and after the 98% rally in the three months, a 20% correction was expected. Many on-chain data points show that the rally was organic so there would be enough buyers demand to sustain the uptrend if it manages to gain momentum again.
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The futures market faced more than $1 billion worth of liquidations, many traders saw the drop coming.

On this #Bitcoin rise, our data showed behavior from various holder sizes:

🐟 0.1-1.0 $BTC holders – began selling at $13.5k
🐠 1.0-10 $BTC – began selling at $15.2k
🦈 100-1,000 $BTC – began selling at $18.0k
🐳 1,000 – 10,000 $BTC – still accumulatinghttps://t.co/6V5iB7Ueuh pic.twitter.com/VZFZPqFuYF

— Santiment Intelligence (@SantimentData) November 25, 2020

Most were likely either hedged on purpose or they let their positions get liquidated and holding bigger contrasting positions. Fund managers and investors who manage billions of dollars do not seem fazed by the current BTC correction. From MicroStrategy CEO Michael Saylor, and Su Zhu who is the Three Arrows Capital CEO the major investors seem confident in Bitcoin’s momentum. Alex Wice ranks at the top of the FTX leaderboard and traded $1 billion in volume per month said that his team is waiting for other places to bid.

https://twitter.com/zhusu/status/1332131358278262786

Wice noted that BTC could face extreme volatility after this price movement but he noted that he is bidding spot and that he is looking to accumulate on dips as he wrote:

 “We are flat and awaiting reentry. Saved by trailing stops. If you are a normie, just bid spot and HODL. Any wick down or V up could be massive. Remember, this isn’t the regular season. These are tough, playoff minutes. But this is where championships are won.”

From October to November, the analysts like Willy Woo noted that the rally was led by smart money. Institutional investors accumulated huge amounts of BTC which only fueled the momentum of BTC. The Market trends showed that institutions in the US have been aggressively accumulating BTC in the past two months. The on-chain data from Glassnode shows a similar trend since small to medium BTC holders sold during the rally from $13,500 to $18,000. The on-chain data shows that the whales are accumulating which only shows there’s growing confidence in the medium to long-term BTC trajectory.