This chart clearly illustrates the entry points of whales and retail traders. Based on the information it provides, the most recent wave of whale and retail activity occurred between 11 February and 6 May. During that period, the main pool of positions was accumulated; however, judging by profit-taking metrics, participants began actively locking in gains from mid-May through early June.
Historically, since 2020, almost every summer has seen a local bottom, followed by growth in autumn or winter. I don’t expect this summer to break that pattern, and it should offer an opportunity to accumulate positions closer to September.
Bitcoin has rebounded well after the drop triggered by the trade-war tensions, and the situation now appears to be improving—the market is giving off an optimistic vibe.
Written by Onchain School
