Whale entities with a 1k–10k balance show a high correlation with price movements.
This data was likely further refined to identify entities more directly involved in actual trading.
We can observe the correlation between price and whale entities (1k–10k) during the 2020 bull cycle.
The same pattern is appearing in the current cycle.
There are no signs yet that the market-leading whales are exiting.
(If they were exiting, we would see signs within the red boxes.)
During the bull cycle, a repeating pattern occurred three times (orange boxes).
Each of these periods was marked by bearish market sentiment. However, while investors were filled with doubt, these whale entities were rapidly accumulating instead.
And in the current phase (Pattern #3), we are seeing the same behavior.
Written by Mignolet