Comparing Bitcoin and S&P500
Crypto market peaked in early November 2021 and then began to bear market, and the stock market peaked in January 2022 and then continues to drop.
From the peak, Bitcoin is down 73% and the S&P500 is down 27%, but if you look at the past 3 months, Bitcoin is down 27% and the S&P500 is down 19%, only an 8% difference.
Bitcoin, which was supposed to have a much larger drop than stocks, is strangely still not breaking down $18,000.
See the following on-chain data to see why Bitcoin is getting support at $18,000.
Whale spot purchases caused by the June crash(red arrow) are accumulating 1D, 1W, 1M, 3M, and 6M without realizing profits. At this time, the Bitcoin purchased by the whale at the price of $18,000.
Not enough volume to trigger a bull market, but obviously the whale(s) have bought Bitcoin at $18,000 price and want to support on to that price.
Whales are accumulating Bitcoin in this way on big dips/plunges.
From the peak, Bitcoin is down 73% and the S&P500 is down 27%, but if you look at the past 3 months, Bitcoin is down 27% and the S&P500 is down 19%, only an 8% difference.
Bitcoin, which was supposed to have a much larger drop than stocks, is strangely still not breaking down $18,000.
See the following on-chain data to see why Bitcoin is getting support at $18,000.
Whale spot purchases caused by the June crash(red arrow) are accumulating 1D, 1W, 1M, 3M, and 6M without realizing profits. At this time, the Bitcoin purchased by the whale at the price of $18,000.
Not enough volume to trigger a bull market, but obviously the whale(s) have bought Bitcoin at $18,000 price and want to support on to that price.
Whales are accumulating Bitcoin in this way on big dips/plunges.
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