Since the beginning of the year Crypto Money MarketUnusual movements are observed. Bitcoin (BTC) $98,174.7 While reaching the highest level of all time (ATH), Ethereum (ETH) 
$2,705.7 The price watched horizontal. Most Altcoin showed higher acceleration than Ethereum. This is altcoin ETH’s price rally for the beginning of the season was no longer a critical factor. If so, what is the reason why whales are constantly accumulating ETH?
Bitcoin domination and Altcoin season relationship
Altcoin seasonThree important criteria for the beginning of the start; Bitcoin’s decrease in market domination, Ethereum’s starting a strong rally and increased market value of Altcoins. In addition, whale movements are an important factor that can change the direction of the market.
According to the latest data Bitcoin dominance (BTC.D) is constantly increasing and 61.62 percent is based on the resistance zone. As in 2017 and 2021 bull runs, BTC domination fell hard after reaching 70 percent and the Altcoin season had begun. If this scenario repeats, the doors of the Altcoin season can be opened after Bitcoin has made a new summit.
Altcoin market also on a critical threshold in this process. The total market value of Altcoins has not yet exceeded the levels in the previous bull season. This shows that Altcoins can follow a different way. However, whale movements offer significant clues at this point. ETH and BTC accumulation of whales can be a harbinger of a major price movement.
ETH and BTC purchases of crypto currency whales
Crypto currency whalesThe purchases of the potential in the market are considered one of the most important indicators of the major changes. The data shared by an anonymous crypto currency analyst recently revealed that whales have severely accumulated ETH. This indicates an important price movement expectation.
Centimeter The data confirms this. A 0.8 percent increase was observed in the number of wallet addresses that hold over 100 BTCs, while the number of wallets that holds less than 100 BTCs decreased by 0.3 percent. This means that whales have accumulated BTC and small investors sell.
Measuring market trends Altcoin season index and show that the current level is 45. This reveals that the market is at a “neutral ve stage, that is, Bitcoin and Altcoins are currently performing similarly. The Altcoin season continues to depend on in which direction the market will move in the coming days.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
