Selling Pressure on the raise but...

...still not sufficient to beat the BULLS.
This week we have had another substantial raise in the selling pressure from the top 100 Richest addresses on BTC, however, the BITCOINS bought by these whales are still 4 times more than those they sell.

As you can see in the charts below, the Top100 have sold a total of 19000 BTC during the last 7 days while the amount bought has been 78000 BTC.

Nothing to worry thought while we don't see anything closer to 1:1 ratio, however, the trend may indicate that these whales are pushing the market down in order to get BTC on discount.

Collecting the monthly data, the difference between the BTC bought and sold is still very important, we are speaking about a ratio in favor of the Buyers by 13:1.

The following is a chart of the 30 days Bought/Sold ratio, taking the data in a weekly manner not monthly...

Even this disproportionate ratio supporting the idea that Buyer Whales are dominant, we have experienced a huge drop on the same. The ratio was 30:1 just one week ago.

In any case, now that TAPROOT is deployed I would expect further BUYS in the coming weeks. The effect of this upgrade is not going to be sensible in short term but on mid term.

@toofasteddie

*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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