Bitcoin whale holdings hit all-time high

According to Cryptoquant data, gold finance reported that currently Bitcoin whales hold about 670,000 Bitcoins, the highest value ever. Undoubtedly, this is an optimistic long-term signal. As shown in the chart, when the whale holding volume is at a high level, Bitcoin tends to show a sideways or mild downward trend. This accumulation stage can be described as calm before the storm in the medium to long term. The real growth trend of Bitcoin began when the whale gradually reduced its holding volume until the percentage change value of the holding volume became negative. Finally, if the historical high point of Bitcoin is not updated between the US presidential election and November 28th (+/- 21 days), it will indicate that there are serious problems in the current bull market cycle, and things will become very bad.

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