Bitcoin $BTC just took a major drop, but do not fret just yet. Let us analyze this. This decline is not caused primarily because whales or long-term investors are selling off. According ly, it is largely middle-sized investors and short-term traders—the so-called shrimps, fishes, and sharks, caused by this shakeout.
Below is the breakdown of the daily sell-off:
- Shrimps: Approximately 480 BTC/day
- Sharks: Approximately 402 BTC/day
- Fishes: Approximately 341 BTC/day
- Whales: Only approximately 70 BTC/day
This is not a loss of confidence, rather a normal fear-based shakeout. Long-term holders are remaining sane while the weaker hands are folding.
Ali Martinez further observed that:
- 35% of addresses are in profit
- Over 60% are in the red
That aside, most are not willing to sell, demonstrating how confident they are.
**Monitor These Levels:**
- If BTC breaks $86,430, it may be a sign of a potential rally.
- If it drops below $81,440, there is a danger of a lower correction.
Jerome Powell's inflation alerts have scared the markets again, but all this macro noise doesn't change the fundamentals.
**In Summary:** Whales and long-term investors remain calm. Maybe it's time for you to view things too from a wider angle.
Chart: $BTC / USDT (1D) on WhiteBIT
