Skip to content

Bitcoin whale accumulation nears end; Bull run to follow?

Bitcoin whale accumulation nears end; Bull run to follow?

Although the cryptocurrency market has been in a bearish mood lately, shedding $20 billion from its market capitalization in a week, the uncertainty around Bitcoin (BTC) could be coming to an end, as suggested by a momentum indicator that points to the rate of whale accumulation of the flagship decentralized finance (DeFi) asset.

As it happens, the Rate of Change (ROC) indicator for Bitcoin has not climbed above zero since this time last year, indicating that the whales have been in accumulation mode and that it might be coming to an end, according to the observations of cryptocurrency chart analyst Trader Tardigrade shared on May 10.

Bitcoin rate of change (ROC) analysis. Source: Trader Tardigrade

Indeed, as the author noted, such a chart pattern setup, as observed in the previous years starting with 2015, suggests that a bullish rally might be in store for the maiden crypto asset in the near future:

“Bitcoin Rate of Change (ROC) has been sitting below zero line for a year. This indicates the whales have been accumulating BTC, and it comes to an end very soon. When accumulation has completed, a BULL RUN follows.”

Bitcoin price analysis

As things stand, Bitcoin is currently changing hands at the price of $27,661, down 0.07% on the day, as well as decreasing 3.47% across the past week and 2.44% over the previous month, as per the latest data retrieved by Finbold on May 10.

Bitcoin 30-day price chart. Source: Finbold

Meanwhile, the crypto community’s predictions for Bitcoin by the end of May are not so optimistic, projecting that the largest digital asset by market cap would continue to decline, reaching an average price of $24,753 on May 31, more than 10% lower than its current amount, as Finbold reported earlier.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.