CryptoQuant: Whales are actively buying the current dip.

Over the last 7 days, large holders with balances of 1,000-10,000 BTC have collectively added more than 16,000 BTC, according to #CryptoQuant. As usual, during the downturn, large wallets are increasing their positions while retail investors are locking in losses. However, for longs, it is important to note that buy the dip may last longer than leveraged players can move without increasing risks and generally remain solvent. Whales are players of a different philosophy.

Interestingly, according to the CryptoQuant chart, a similar dynamic was observed in early August: during the first correction, whales were actively buying, after which there was a good rise.

In short, the probability of a local bottom and at least a short-term reversal is increasing. Whether this will be a reversal in the medium-term picture remains an open question. As does the question of where this bottom will be set. It is likely to happen today or tomorrow.