Popular on-chain analyst Will Clemente thinks certain metrics indicate Bitcoin (BTC) is just now entering the main phase of the bull market.
Clemente tells his 393,900 Twitter followers that “long-term holders buy BTC into weakness and sell into strength.” The analyst notes that long-term holders have just begun to sell more than they buy for the first time in six months.
Explains Clemente in his weekly Blockware Intelligence Newsletter,
“This week we have seen our first red prints in long-term holder net position change. This looks at the 30-day net change in long-term holder supply… This is representative of long-term holders starting to sell into strength.
As we have discussed many times: long-term holders buy into weakness (don’t perfectly buy the bottom) and then