Here’s what’s happening:
Large whales are accumulating heavily. Long-term holders (LTHs) are also aggressively stacking BTC. There’s been a massive exchange outflow of 172,000 BTC, suggesting investors are pulling coins off exchanges, likely for long-term holding.The chart shared by Swissblock shows a clear net position change: while miners and short-term holders are showing minor distribution, whales and long-term holders are scooping up coins at a rapid pace.
Meanwhile, exchanges are seeing significant withdrawals — a historically bullish sign.
Swissblock summed it up perfectly: “This is the calm before the storm.”
With this level of accumulation and drying exchange supply, Bitcoin may be setting the stage for its next explosive move.
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