Trader addresses vs Bitcoin price

12 בדצמ׳ 2022

📝Definitions
According to IntoTheBlock, we can classify bitcoin addresses by the amount of time they have held their investments.

The classification is done by looking at the weighted average time an address has been holding, split into three groups:

🧑‍🦳Hodlers — Addresses that have been holding for over one year. These are seen as long-term investors
🧑Cruisers — Addresses holding for over a month but under a year. These are mid-term or so-called swing traders
🧑‍🦲Traders — Addresses holding for under a month. These are short-term speculators

📈Graphic analysis
There is a positive correlation between the number of traders and the Bitcoin price most of the time.
It is interesting to note that the number of traders is at the same level as July 2019, while the Bitcoin price is in the same zone as the 2017 top.

🟢The scenario will be bullish if the number of traders break through the blue rectangle and seek the upper part of the symmetrical triangle;
🔴on the other hand, the scenario will be bearish if this indicator seeks the bottom of the triangle.
⚠️And it would be extremely bad if it broke the triangle below.

📆This week promises a lot of volatility, with US inflation data being released on 12/13/2022, and on the 14th the interest rate release, along with the FOMC projections.
🇪🇺 In addition there will be a hectic agenda in the European Union.

12 בדצמ׳ 2022

הערה

ℹ️ Clarification: The moving average plotted on the chart is 8 weeks or 55 days (exponential smoothed)