- Well-known crypto expert Willie Wu analyzed the behavior of traders
- They buy as actively as in March 2021 of the year
- Wu thinks long-term holders will stop buying soon, and this will give an impetus for the growth of the rate
Influential crypto analyst Willie Wu checked the behavior of retail bitcoin traders. And I discovered something that the market has not seen since the March crisis 2021.
In his tweet, the expert posted a chart of buying rates from retail traders.
Last times retailers bought in such volumes during last year’s March correction, when the BTC rate was falling amid coronopanic panic.
Wu also shared a diagram of the behavior of HODLers (BTC holders with little sales history). They bought low in the past and are doing the same now.
“Visualization of low buying (spot volumes visible on the web). It is, it is happening in moderation, but the main thing is that there are no signs of further sale so far. It is also worth remembering that long positions have already been blurred. ”
What does it mean?
Willie Wu believes that when long-term holders (LTH) reach their peak, BTC will begin to gain strength to grow. A new wave of short-term holders (STH) will kick in.
According to the analyst, LTH has already reached the aforementioned peak over the past few weeks:
“Long-term holders are at the peak of savings. These market participants tend to sell during the rally. We saw this during the last October rally in 2021. When the Longs “ran out of ammunition,” their coins ended up in the hands of new short-term holders. ”