4.9 BitTiger Diary

Will the main players test 84K again after offloading at the average price? Today, I’m sharing with you the on-chain Net Position Change of Entity Balances (30-day rolling) indicator: This shows the net increase or decrease in Bitcoin balances held by entities of different sizes (categorized by holdings) over the past 30 days. This indicator essentially observes how funds flow between different groups: Typical characteristics in the later stages of a bull market: - Whales (blue/purple/green) are net sellers (lines trending downward). - Small holders (orange/yellow/pink) are net buyers → Whales distribute their holdings to retail investors at high prices. Bear market bottom characteristics: - Whales are net buyers (lines trending upward), while small holders panic sell. - In a sideways market: Fluctuations among groups are minimal, mostly balanced. In this cycle (red rectangle), it’s clear that the main players created an epic net outflow around 84K. This is where medium-to-large holders (hard to pivot quickly) decided it was the last cost-effective point to offload large positions. So, from the perspective of accumulation and distribution, would the main players, who painstakingly completed their distribution, allow the price to test that level again? Would they act without seeing a price they consider cost-effective? **My personal take:** Any rebound before we see a clear accumulation peak is just a fake-out. Stay patient ✊✊ #BitTigerDiary #BTC #FourYearCycle #OnChainData #OnChainAnalysis