Upbit Making stops accumulating BTC: Altseason about to start?

[MrSpasybo]

I - Onchain data from 52Hz Onchain (in Vietnamese)
I translated the 52Hz Onchain's post from Vietnamese to English, with refinements and explanations of crypto market slangs. I will present text + images so we can view, quote and discuss more easily. I think this is better than sending a simple link.

After many days of accumulating BTC despite the bearish coming from Mr.100 and Upbit Making, currently, 4 days have passed and Upbit Making has not accumulated any more BTC. In the past, when Upbit Making no longer accumulated BTC, the entire ALTS entered a strong growth when receiving cash flow from the market.

So does Upbit Making think that the BTC price is too high to accumulate or have they accumulated enough BTC and are ready to pump the market to a higher price zone?

>> Perhaps Upbit Making has bought enough: Circulating supply of Entities is at 90% (this means whales have complete control of the amount of BTC from onchain addresses to CEX). Thus, we are entering a strong rising wave of ALTS.

When BTC amount is no longer accumulated, it is also the time when BTC cedes cash flow to ALTS with attractive narratives. The strong growth of Layer-2 token price today is not a surprise to investors.

II - Technical analysis (Weekly chart)

BTC.D has fallen out of the rising trendline after being stopped by the resistance zone around 55%, while MACD shows a weakening of the current uptrend, suggesting that BTC is no longer dominant over ALTS. However, we also do not have a clear reversal signal as BTC.D continues to stay above the Weekly EMA34. Thus, in the coming time, only a few ALTS will have strong growth, most will still have weaker price growth performance than BTC.

[KryptoBull]

After many days of accumulating BTC despite the bearish coming from Mr.100 and Upbit Making, currently, 4 days have passed and Upbit Making has not accumulated any more BTC. In the past, when Upbit Making no longer accumulated BTC, the entire ALTS entered a strong growth when receiving cash flow from the market.

>> Perhaps Upbit Making has bought enough: Circulating supply of Entities is at 90% (this means whales have complete control of the amount of BTC from onchain addresses to CEX). Thus, we are entering a strong rising wave of ALTS.

Right now I have seen many Altcoins being pumped strongly such as NEAR, DOT, ATOM, FET and many memecoins increasing earlier this week. This may just be a coincidence, but it could also be hype coming from Upbit - an exchange famous for pumping and manipulating prices in the market.

BTC has created a new ATH, as long as BTC goes sideways, Altcoins will receive cash flow and grow extremely strongly!

[jeraldskie11]

After many days of accumulating BTC despite the bearish coming from Mr.100 and Upbit Making, currently, 4 days have passed and Upbit Making has not accumulated any more BTC. In the past, when Upbit Making no longer accumulated BTC, the entire ALTS entered a strong growth when receiving cash flow from the market.

>> Perhaps Upbit Making has bought enough: Circulating supply of Entities is at 90% (this means whales have complete control of the amount of BTC from onchain addresses to CEX). Thus, we are entering a strong rising wave of ALTS.

Right now I have seen many Altcoins being pumped strongly such as NEAR, DOT, ATOM, FET and many memecoins increasing earlier this week. This may just be a coincidence, but it could also be hype coming from Upbit - an exchange famous for pumping and manipulating prices in the market.

BTC has created a new ATH, as long as BTC goes sideways, Altcoins will receive cash flow and grow extremely strongly!

Usually, when Bitcoin is on consolidation state after an upside move, the price of alts will be the next to pump. I believe in Bitcoin dominance because most alts are following the price movement of Bitcoin. But sometimes there are cases even the price of Bitcoin goes down, the alts continue to increase it's price. It's seasonal and not normally happen in the market, and this what we called the Alts season. Any big news that is related to crypto can give a big impact to the price of Bitcoin.

[Faisal2202]

I - Onchain data from 52Hz Onchain (in Vietnamese)-cut-

Thanks for this information, I did not know upbit's accumulation of BTC can be used as an indicator to judge when the alts season is going to start, well, IMHO alts season is already started a long time ago, but now it will start again, and the time is not so far, I also hope this will start soon, soon before I start to convert my alts into USDT or BTC, As I need funds for some reasons. By the way dear OP, the link you have provided leads us to a telegram group, and IDK what language was that, but after translating that text into English via TG's built-in translator I realized your text is 100% same, means you copied it from that TG group. I am not trying to accuse you.

Just wants to know, don't you should change the color of this text "RED" as according to rules if one is copying the whole thing from another platform then they should change the color of the text to red. Just a thought.

Besides that, I also eagerly waiting for ALT seasons, because alts can give us more then what we can get from BTC only. By the way realizing this fact is initself a hard thing, because I also didn't realized this until I came to heard from some expert's reviews. So, after that I thought I should diversify my funds into many alts coins, and one thing they did not told me, but I have learned is, you should definitely have some of your capital invested in tp 10 alts.

[MrSpasybo]

Thanks for this information, I did not know upbit's accumulation of BTC can be used as an indicator to judge when the alts season is going to start, well, IMHO alts season is already started a long time ago, but now it will start again, and the time is not so far, I also hope this will start soon, soon before I start to convert my alts into USDT or BTC, As I need funds for some reasons. By the way dear OP, the link you have provided leads us to a telegram group, and IDK what language was that, but after translating that text into English via TG's built-in translator I realized your text is 100% same, means you copied it from that TG group. I am not trying to accuse you.

Just wants to know, don't you should change the color of this text "RED" as according to rules if one is copying the whole thing from another platform then they should change the color of the text to red. Just a thought.

Besides that, I also eagerly waiting for ALT seasons, because alts can give us more then what we can get from BTC only. By the way realizing this fact is initself a hard thing, because I also didn't realized this until I came to heard from some expert's reviews. So, after that I thought I should diversify my funds into many alts coins, and one thing they did not told me, but I have learned is, you should definitely have some of your capital invested in tp 10 alts.

I have used the entire content from 52Hz Onchain's post, because it is the assessment of professional onchain analysts. I just help translate to make it easier for everyone to understand, especially with Vietnamese slangs about the crypto market. I think I should present all the content + images so that forum members can directly view, quote and discuss in the most convenient way. I don't want to just send a link 

I also thought about changing the text color to red, but it doesn't seem really reader friendly. I reserved section I for translated text, I think I will have no problem with plagiarism as I have attached the link of the original post from 52Hz Onchain.

I think we are just starting to see money flowing from BTC to ALTS. Normally, during Altseason, when BTC goes sideways, ALTS will grow strongly. However, today right after BTC touched $70K and dropped to $66K, many ALTS began to drop in price, showing investor skepticism. I think we will need a few weeks for investors to get bored with BTC's stagnation and start investing in the best ALTS.

[Trongduy]

Right now I have seen many Altcoins being pumped strongly such as NEAR, DOT, ATOM, FET and many memecoins increasing earlier this week. This may just be a coincidence, but it could also be hype coming from Upbit - an exchange famous for pumping and manipulating prices in the market.

BTC has created a new ATH, as long as BTC goes sideways, Altcoins will receive cash flow and grow extremely strongly!

Upbit whales stop accumulating, maybe they will soon pump the entire market to new highs without spending too much effort when most of the tokens are in their hands. I hope this will help BTC continue to create new ATHs. There needs to be more clear pumping motivation to decisively break through the old ATH.

BTC price has increased sharply, Altcoins are waiting for their turn to be pumped, I hope whales will pump slowly so that those who do not have tokens can promptly place orders and buy tokens.

[ScamViruS]

Upbit Whales may have accumulated enough bitcoins, and they are now planning to turn their attention to Alts. They have stopped accumulating bitcoins, it doesn't mean they have moved away from bitcoin trading, they have filled their bags and now they want the market to move higher, and they are preparing for that. However, many strong alts have already pumped into the crypto market and those coins are still in an uptrend. So I think within a few days we will see one coin after another start getting pumped.

[MrSpasybo]

Upbit Whales may have accumulated enough bitcoins, and they are now planning to turn their attention to Alts. They have stopped accumulating bitcoins, it doesn't mean they have moved away from bitcoin trading, they have filled their bags and now they want the market to move higher, and they are preparing for that. However, many strong alts have already pumped into the crypto market and those coins are still in an uptrend. So I think within a few days we will see one coin after another start getting pumped.

This is really what I want, and I think it's already started because ETH price has grown impressively over the past few weeks and is at ~$4K. ETH will always be the first ALTS to receive cash flow from BTC, followed by other top coins. In this cycle, I believe that Upbit will be one of the major whales that we can monitor to predict narrative of manipulation and money flow in the crypto market. Hope we can use it to make more profits from wise investment 

[ScamViruS]

~~

This is really what I want, and I think it's already started because ETH price has grown impressively over the past few weeks and is at ~$4K. ETH will always be the first ALTS to receive cash flow from BTC, followed by other top coins. In this cycle, I believe that Upbit will be one of the major whales that we can monitor to predict narrative of manipulation and money flow in the crypto market. Hope we can use it to make more profits from wise investment 

Yeah. The impact of this is visible in the market today, with many strong alts pumped into the crypto market and many preparing. This is the right time, taking advantage of the market to book some real profits, a right investment now can create huge profit opportunities. The Bitcoin market was quite stable today, causing money to flow into the alts market, we may see a lot of volatility in the alts market in the next few days, when many strong alts may start a big run. And of course a lot of shitcoins can also be pumped unexpectedly, since entry into these is more advantageous for whales to make big profits.

[Faisal2202]

I think I should present all the content + images so that forum members can directly view, quote and discuss in the most convenient way. I don't want to just send a link 

I got your intentions and they were for the easiness of members, I like the way you think for members. As until we don't make our posts attractive no one read them that's one of the many rules in writing articles. As an SEO writer, I can understand this. And I am glad that you are not angry with me, just because of what I said as I was a little afraid that you are an OG here and I with no match to your experience is saying such a thing to you. But it seems like you are a good dude. hehe, I mean not seems like, but you are 

I also thought about changing the text color to red, but it doesn't seem really reader friendly. I reserved section I for translated text, I think I will have no problem with plagiarism as I have attached the link of the original post from 52Hz Onchain.

Well, it means that we do have the luxury to add source link and to sort the problem of plagiarism, in case if we don't want to color the text RED. As it really becomes so unattractive. But some mods told me that I have to give RED color if I wants to copy text from another source. That's why I asked.

I think we will need a few weeks for investors to get bored with BTC's stagnation and start investing in the best ALTS.

You said well, I was also once too much enthusiast of BTC that I didn't think about alts, but when I realized that, I am not making 2x while many of other people sharing there 2x, 4x profits from alts. So after realizing there potential, I invested some of my capital in ALTs too. The same will happen now, when newcomers will realize the same thing they will also invest some funds from BTC to ALTs. Although Alts rally really have started, as Near, Link, Clore, etc. are giving good returns.

[MrSpasybo]

I got your intentions and they were for the easiness of members, I like the way you think for members. As until we don't make our posts attractive no one read them that's one of the many rules in writing articles. As an SEO writer, I can understand this. And I am glad that you are not angry with me, just because of what I said as I was a little afraid that you are an OG here and I with no match to your experience is saying such a thing to you. But it seems like you are a good dude. hehe, I mean not seems like, but you are 

Well, it means that we do have the luxury to add source link and to sort the problem of plagiarism, in case if we don't want to color the text RED. As it really becomes so unattractive. But some mods told me that I have to give RED color if I wants to copy text from another source. That's why I asked.

ou said well, I was also once too much enthusiast of BTC that I didn't think about alts, but when I realized that, I am not making 2x while many of other people sharing there 2x, 4x profits from alts. So after realizing there potential, I invested some of my capital in ALTs too. The same will happen now, when newcomers will realize the same thing they will also invest some funds from BTC to ALTs. Although Alts rally really have started, as Near, Link, Clore, etc. are giving good returns.

I no longer have the goal of increasing Activity or Karma to Rank-up, so everything I do can be seen as geared towards readers and the quality of the forum. I try to make things more user-friendly and clear, so that members don't have to click on a link to go to another post and then return to my topic, which I myself rarely do, except when more detailed information is needed. I hope I didn't do anything wrong and affect the quality of the AltcoinsTalks forum.

I myself am also following many ALTS, their price increase is really attractive and makes me want to invest a small part of my capital in them to get higher profits. However today BTC made a new ATH at $72,360 and left me quite confused, I honestly can't make a decision on my investment for this week: should I continue DCA BTC or move to some of the top ALTS seems as potential as ETH, BNB, SOL, XRP... 

[Faisal2202]

I no longer have the goal of increasing Activity or Karma to Rank-up, so everything I do can be seen as geared towards readers and the quality of the forum. I try to make things more user-friendly and clear, so that members don't have to click on a link to go to another post and then return to my topic, which I myself rarely do, except when more detailed information is needed. I hope I didn't do anything wrong and affect the quality of the AltcoinsTalks forum.

That's good to know, as I have seen your posts and the quantity of them as well. You post a lot but all of them are so helpful and easy to read. I almost read every especially the ones you made in the AVAX section. I visited other alts sections but the posts on the AVAX section made by you are of no match to the posts that other members are making on other alts sections. I like your content. It is full of facts.

I myself am also following many ALTS, their price increase is really attractive and makes me want to invest a small part of my capital in them to get higher profits. However today BTC made a new ATH at $72,360 and left me quite confused, I honestly can't make a decision on my investment for this week: should I continue DCA BTC or move to some of the top ALTS seems as potential as ETH, BNB, SOL, XRP... 

I am seeing more potential in ETH than BTC. For example, what is your top prediction for BTC in this cycle? For me it is $150k and for ETH, my prediction is $10k and keeping the price tag in mind, I think ETH can give us more profit even in a situation where both coins are on the peek price. My calculations might be wrong here. And talking about BNB I was not so enthusiastic about it due to the case on Binance. But still, it has outperformed my expectations, I was not expecting it to go that high even before the halving but it really stunning. Sol has a lot potential even after this airdrop hype it will have potential. But my eyes are on gamefi project at the moment. DeFi narratives are going to lose there hype soon. What your view on this?

[MrSpasybo]

I am seeing more potential in ETH than BTC. For example, what is your top prediction for BTC in this cycle? For me it is $150k and for ETH, my prediction is $10k and keeping the price tag in mind, I think ETH can give us more profit even in a situation where both coins are on the peek price. My calculations might be wrong here. And talking about BNB I was not so enthusiastic about it due to the case on Binance. But still, it has outperformed my expectations, I was not expecting it to go that high even before the halving but it really stunning. Sol has a lot potential even after this airdrop hype it will have potential. But my eyes are on gamefi project at the moment. DeFi narratives are going to lose there hype soon. What your view on this?

I share the same view on the important price zone for BTC and ETH, but I'm not sure if that's where the reversal or breakout and change in price behavior of BTC and ETH will take place. The participation of Spot ETF can change a lot in price behavior and they have gone beyond our historical predictability.

I believe that DeFi summer will still come thanks to LSD and LRD trends on Ethereum, I'm not sure if these trends will come to other POS blockchains, its model is really interesting and creates great profits come with instability. I think GameFi, SocialFi, NFT, Metaverse trends will all come back alongside AI and DePIN. At the time we have altseason, most ALTS will have growth and it is difficult to determine which is the biggest trend of the market 

[Rex067]

I - Onchain data from 52Hz Onchain (in Vietnamese)
I translated the 52Hz Onchain's post from Vietnamese to English, with refinements and explanations of crypto market slangs. I will present text + images so we can view, quote and discuss more easily. I think this is better than sending a simple link.

After many days of accumulating BTC despite the bearish coming from Mr.100 and Upbit Making, currently, 4 days have passed and Upbit Making has not accumulated any more BTC. In the past, when Upbit Making no longer accumulated BTC, the entire ALTS entered a strong growth when receiving cash flow from the market.

So does Upbit Making think that the BTC price is too high to accumulate or have they accumulated enough BTC and are ready to pump the market to a higher price zone?

>> Perhaps Upbit Making has bought enough: Circulating supply of Entities is at 90% (this means whales have complete control of the amount of BTC from onchain addresses to CEX). Thus, we are entering a strong rising wave of ALTS.

When BTC amount is no longer accumulated, it is also the time when BTC cedes cash flow to ALTS with attractive narratives. The strong growth of Layer-2 token price today is not a surprise to investors.

II - Technical analysis (Weekly chart)

BTC.D has fallen out of the rising trendline after being stopped by the resistance zone around 55%, while MACD shows a weakening of the current uptrend, suggesting that BTC is no longer dominant over ALTS. However, we also do not have a clear reversal signal as BTC.D continues to stay above the Weekly EMA34. Thus, in the coming time, only a few ALTS will have strong growth, most will still have weaker price growth performance than BTC.

Bitcoin is still the world largest and well know cryptocurrency, and it performance will continue to increase and have a significant impact on the crypto market. There are numbers of promising altcoins that could have significant gains in coming months. However it's possible that the Upbit stopping accumulation of Bitcoin can signal a start of altcoins period.

[MrSpasybo]

Bitcoin is still the world largest and well know cryptocurrency, and it performance will continue to increase and have a significant impact on the crypto market. There are numbers of promising altcoins that could have significant gains in coming months. However it's possible that the Upbit stopping accumulation of Bitcoin can signal a start of altcoins period.

Usually, pro investors will allocate the majority of their capital to BTC for safety, and a small portion to ALTS for high returns, while accepting higher risks. Currently, as we can see, Upbit is also continuously accumulating BTC and ALTS, then using BTC to pump ALTS to take profits and then use that profit to accumulate more BTC. I am also quite confused about whether it is time for MM to start Altseason or not because BTC halving has not happened yet. Maybe things will be clearer in May, when we have BTC Halving and ETH Spot ETF