Ok, this one is a big and complex idea. What if we have already seen a large proportion of the people who were going to sell, sell?
What if their sell-side pressure has already been largely absorbed, but we just didn’t hear about or see it?
What if there is a very quiet, patient and persistent bid by very skilled actors that absorbed a great many speculator coins over the past 2.5months? The kind of trained patient bid that may just be…oh, I don’t know…institutions who have been playing this game for decades?
In today’s video, I try to explore this very strange idea. This is a new concept showing up in on-chain data, even to me, and it is a great example of how I myself am still learning and experimenting with on-chain data.
I **Think** this is what is going on. That we have seen Long and Short term holders alike get rinsed out over the last 5 months. I mean, the 2021-22 market has been quite the roller coaster. I think many of us are probably a bit desensitised to it, but we’ve had 2x 50% drawdowns, both 4-5months long, plus three All-time-highs in less than 12 months!
It has been fast, slow, chaotic, and snails pace all in a short span of time. Add in a few macro risks here and there and we have a serious washing machine of a market. No wonder we are all exhausted!
As supplementary information, I do recommend having a read of the latest Glassnode report and video session on this topic. I believe this is near the cutting edge on on-chain market dynamics. I’ve not see anything quite like this from others. So it could be truly innovative…or dead wrong. Either way, it gets us thinking laterally and outside the box!