This Group of Investors Drives Bitcoin Bull Markets, According to Analyst Willy Woo – And It's Not Whales.
19 Jul 2021, 08:00
This Group of Investors Drives Bitcoin Bull Markets, According to Analyst Willy Woo – And It’s Not Whales
Prominent on-chain analyst Willy Woo says that a particular investor cohort is the driving force behind Bitcoin (BTC) bull markets.
Woo claims that small holders, or entities that own less than one BTC, continue to stack Bitcoin as they outpace the selling of large entities or whales.
“Chart: Weekly net flows to small holders (of less than 1 BTC).
It’s retail that [drives] Bitcoin bull markets. When they stop buying, that’s a bear market warning. They haven’t stopped buying.