This post from @cryptowhale is misleading. (Who is a known scammer)

This is showing the number of whales. He is completely leaving out the amount of Bitcoin supply that whales hold, which has been increasing for almost 2 months now.
Red is the number of whales, green is their holdings
Surprise surprise

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Will Clemente

Will Clemente Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @WClementeIII

1 Jul
It's been widely believed that retail is to blame for Bitcoin's price drop.

However, the data shows this is not the case. Retail (entities with 0.001BTC to 1BTC) has been aggressively adding to their holdings.
It actually seems like most selling has come from whales (entities with >1K BTC), as the number of whales on-chain has continued to trend down.
Although this is good for adoption, it shows that retail cannot sustain Bitcoin as a trillion-dollar asset and I suspect if there's going to be any continuation of this bull run, we're going to need to see at least a jolt in new whales coming on the network.
Read 5 tweets
8 Jun
Long Term Holders have added 267,534 BTC to their holdings in the last 2 weeks Image
Short Term Holders have sold 217,194 BTC in the same time period Image

-Some of this movement of supply from STH to LTH is entities aging into the LTH cohort.

-Selling from short-term holders had been offsetting buying from long-term, but now long-term holders buying is offsetting short-term hodlers selling.
Read 4 tweets
7 Jun
Introducing: Delta Price/Realized Price Ratio (DPRP)

This ratio can be used to identify major Bitcoin bull run tops.

The idea to compare DP and RP was conceptualized in David Puell's article:…
This ratio shows when Delta cap (difference between realized capitalization and the all-time moving average capitalization of Bitcoin) converges with Realized capitalization (cap based on when coins were last moved)

Without taking a ratio of the two, here are the convergences:
Read 6 tweets
6 Jun

Update on #BTC Accumulation
For over 2 weeks now, the market has been selling at a loss. However, this process seems to be almost done.
SOPR, which is a ratio of profit-taking in the coins trading on any given day, seems to have found a local bottom on a weekly moving averge.

This is the deepest reset of weekly SOPR since March 2020.
Read 6 tweets
21 May
The cohort that did the most buying Wednesday was entities with 10k-100k.

This cohort added +122,588
The cohort that did the most selling was entities with over 100k BTC, reducing their holding by a net -89,000 BTC
The biggest spike in selling by age during the dip came from coins aged 1 week to 1 month old.
Read 7 tweets
6 May

This #Bitcoin Bull Market is far from over. Here's why:
For starters, Bitcoin tops are marked by increasingly parabolic price action until a blowoff top occurs and demand steps back.

We are not seeing that. There is a massive base of capital (on-chain volume) building at these levels. Cycle tops have very minimal distribution.
Tops are also marked by spikes in Dormancy (old coins being sold into strength)

The opposite is occurring. Dormancy has been going down since February, meaning old holders are waiting for higher prices to unload their bags.
Read 9 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!