Bitcoin fulfills important prediction, what's to come?
Bitcoin has historically experienced robust accumulation towards every halving. A similar outcome in the next 10 months would favor the bulls in the second half of 2023.The market will likely be in an accumulation zone until then.18-24 months until the next bull peak.Assessing the state of Bitcoin accumulation
Bitcoin’s ability to bounce back strongly will depend on the level of demand currently in the market. Demand is largely driven by whales and can be gauged by activity in the derivatives segment. Whales holding over 1,000 BTC have been offloading coins for the last four weeks.Addresses holding at least 1,000 BTC closed at the lowest monthly level on Friday. They have since then shown signs of slight accumulation.
Whale holdings previously retested the current levels between March and May. The same levels may support a strong psychological buy zone. Interestingly, the exchange flow data confirmed that the amount of Bitcoin currently flowing from exchanges is higher than the amount flowing in. In other words, BTC was experiencing a resurgence in demand at press time.
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