Whale's PING-PONG game
30000K is the level on which whales seems to accumulate the most. Glassnode has some interesting metrics, in which I present here the number of accounts that have more than 1000 BTC over time is shown.
It is curious to see how the level close to 30K has meant for three times in a row the increase in the number of accounts accumulating more than 1000 tokens. What they are doing is what we are all doing, trading the range between $ 40,000 and $ 30,000. I think it is a good sign in my opinion, if there is no worse news in the near future, 30,000 must be the lower level of the decline. This effect is actively reflected in the bitcoin dominance chart. We are seeing the accumulation phenomenon at its finest and, I don't see that it is a bad thing per se.
Rather, I think that we are shielding the new lower limit of the range, the question is whether the rebound is going to have enough force to overcome the upper limit of the range again or if, on the contrary, we are going to continue watching a game of ping-pong for it what remains of June.
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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