{"id":520677,"date":"2023-02-23T08:41:12","date_gmt":"2023-02-23T08:41:12","guid":{"rendered":"https:\/\/ktsl888.com\/?p=520677"},"modified":"2024-06-11T07:09:57","modified_gmt":"2024-06-11T07:09:57","slug":"in-the-bear-bitcoin-run-of-2022-smart-money-were-not-smartin-the-bear-bitcoin-run-of-2022-smart-money-were-not-smart","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/in-the-bear-bitcoin-run-of-2022-smart-money-were-not-smartin-the-bear-bitcoin-run-of-2022-smart-money-were-not-smart\/","title":{"rendered":"In The Bear Bitcoin Run Of 2022, Smart Money Were Not &#8220;Smart&#8221;"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">In the crypto winter of 2022, Bitcoin whales were, after all, not as smart as expected, on-chain data on February 23 shows.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Bitcoin Whales Were Not Smart In 2022<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">According to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.lookintobitcoin.com\/charts\/addresses-greater-than-1000-btc\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">data<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0from\u00a0<\/span><em><span data-preserver-spaces=\"true\">LookIntoBitcoin<\/span><\/em><span data-preserver-spaces=\"true\">, whales didn\u2019t enter bitcoin timely in 2022. They began accumulating much earlier before the Bitcoin price eventually sunk to $15,300 in November.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bears-beware-bitcoin-trend\/\">Bears Beware: Bitcoin \u201cTrend\u201d Strengthens To Pre-ATH Levels<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Trackers show that Bitcoin whales began buying from around $35,000, at a premature level, with a big chunk of those buyers selling at a loss at the tail end of last year when BTC began tanking.<br \/>\n<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Whales, who in Bitcoin are addresses with at least 1,000 BTC, are often monitored, and small retail holders tend to copy their actions.\u00a0<\/span><\/p>\n<figure id=\"attachment_520680\" aria-describedby=\"caption-attachment-520680\" style=\"width: 990px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-520680 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-whales.png?resize=990%2C520\" alt=\"Bitcoin whale addresses: LookIntoBitcoin\" width=\"990\" height=\"520\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-whales.png?w=990 990w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-whales.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-whales.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-whales.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-whales.png?w=750 750w\" sizes=\"(max-width: 990px) 100vw, 990px\"><figcaption id=\"caption-attachment-520680\" class=\"wp-caption-text\">Bitcoin whale addresses: <a href=\"https:\/\/www.lookintobitcoin.com\/charts\/addresses-greater-than-1000-btc\/\" target=\"_blank\" rel=\"noopener nofollow\">LookIntoBitcoin<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Because most of them are perceived to be early adopters or institutions whom retailers may sometimes mistake for trading experts or have far more experience in crypto, some may tend to follow their market decisions.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The bad news is that most of those who did in 2022 got burnt because markets ended up plunging even further into the red after their initial buying spree at around $35,000. These r<\/span><span data-preserver-spaces=\"true\">etailers and holders, typically holding less than 10 BTC, may be new to the market.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-inflection-zone-24-5k\/\">Bitcoin Price Reaches Inflection Zone and 100 SMA Is The Key<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">They may be active traders or investors who opt for various accumulation options, some in sync with the on-chain activities of whales since t<\/span><span data-preserver-spaces=\"true\">he transparent nature of public chains like Bitcoin means all activities can be traced, and this is what most took advantage of last year.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Are Bitcoin Whales Exiting The Market?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Besides whales being sidestepped by the markets, on-chain data shows that large-scale BTC holders are downsizing their positions. This is an interesting development that\u2019s also unlike events in the past.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In previous bear cycles, whales took a contrarian approach and doubled down whenever retailers were dumping their assets. By buying cheap, they accumulated more coins, expanding their market share. However, this has not been the case. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As prices dipped, the number of whales decreased, meaning many exited the market. Because of their actions, it appears that whales were, like retailers, apprehensive of the markets and chose to stay on the sidelines until there was recovery.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">BTC prices have since recovered, bouncing from 2022 lows and expanding to as high as $25,000 in February 2023. However, whether prices will break higher and retest the $30,000 zone depends on price action in the coming sessions.\u00a0<\/span><\/p>\n<figure id=\"attachment_520679\" aria-describedby=\"caption-attachment-520679\" style=\"width: 840px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-520679\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-On-February-23.png?resize=840%2C518\" alt=\"Bitcoin Price On February 23\" width=\"840\" height=\"518\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-On-February-23.png?w=840 840w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-On-February-23.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-On-February-23.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Price-On-February-23.png?w=750 750w\" sizes=\"(max-width: 840px) 100vw, 840px\"><figcaption id=\"caption-attachment-520679\" class=\"wp-caption-text\">Bitcoin Price On February 23| Source: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Bitcoin is now\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">trading<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0at $24,429, with\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/bitinfocharts.com\/top-100-richest-bitcoin-addresses.html\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">four whales<\/span><\/a><span data-preserver-spaces=\"true\"> holding between 100,000 and one million BTC.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, Chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the crypto winter of 2022, Bitcoin whales were, after all, not as smart as expected, on-chain data on February 23 shows. Bitcoin Whales Were Not Smart In 2022 According to\u00a0data\u00a0from\u00a0LookIntoBitcoin, whales didn\u2019t enter bitcoin timely in 2022. They began accumulating much earlier before the Bitcoin price eventually sunk to $15,300 in November.\u00a0 Related Reading: Bears Beware: Bitcoin \u201cTrend\u201d Strengthens To Pre-ATH Levels Trackers show that Bitcoin whales began buying from around $35,000, at a premature level, with a big chunk of those buyers selling at a loss at the tail end of last year when BTC began tanking. Whales, who in Bitcoin are addresses with at least 1,000 BTC, are often monitored, and small retail holders tend to copy their actions.\u00a0 Because most of them are perceived to be early adopters or institutions whom retailers may sometimes mistake for trading experts or have far more experience in crypto, some may tend to follow their market decisions.\u00a0 The bad news is that most of those who did in 2022 got burnt because markets ended up plunging even further into the red after their initial buying spree at around $35,000. These retailers and holders, typically holding less than 10 BTC, may be new to the market.\u00a0 Related Reading: Bitcoin Price Reaches Inflection Zone and 100 SMA Is The Key They may be active traders or investors who opt for various accumulation options, some in sync with the on-chain activities of whales since the transparent nature of public chains like Bitcoin means all activities can be traced, and this is what most took advantage of last year. Are Bitcoin Whales Exiting The Market? Besides whales being sidestepped by the markets, on-chain data shows that large-scale BTC holders are downsizing their positions. This is an interesting development that\u2019s also unlike events in the past.\u00a0 In previous bear cycles, whales took a contrarian approach and doubled down whenever retailers were dumping their assets. By buying cheap, they accumulated more coins, expanding their market share. However, this has not been the case. As prices dipped, the number of whales decreased, meaning many exited the market. Because of their actions, it appears that whales were, like retailers, apprehensive of the markets and chose to stay on the sidelines until there was recovery. BTC prices have since recovered, bouncing from 2022 lows and expanding to as high as $25,000 in February 2023. However, whether prices will break higher and retest the $30,000 zone depends on price action in the coming sessions.\u00a0 Bitcoin is now\u00a0trading\u00a0at $24,429, with\u00a0four whales holding between 100,000 and one million BTC. Feature image from Canva, Chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":520678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,19064],"class_list":["post-520677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-whales"],"acf":[],"yoast_head":"\n<title>In The Bear Bitcoin Run Of 2022, Smart Money Were Not &quot;Smart&quot;<\/title>\n<meta name=\"description\" content=\"In the crypto winter of 2022, Bitcoin whales were, after all, not as smart as expected, on-chain data on February 23 shows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/\",\"https:\/\/x.com\/Dalmas_Ngetich\"],\"url\":\"https:\/\/ktsl888.com\/author\/dalmasngetich\/\"}]}<\/script>\n","yoast_head_json":{"title":"In The Bear Bitcoin Run Of 2022, Smart Money Were Not \"Smart\"","description":"In the crypto winter of 2022, Bitcoin whales were, after all, not as smart as expected, on-chain data on February 23 shows.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ktsl888.com\/news\/in-the-bear-bitcoin-run-of-2022-smart-money-were-not-smartin-the-bear-bitcoin-run-of-2022-smart-money-were-not-smart\/","og_locale":"en_US","og_type":"article","og_title":"In The Bear Bitcoin Run Of 2022, Smart Money Were Not \"Smart\"","og_description":"In the crypto winter 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/ktsl888.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"In The Bear Bitcoin Run Of 2022, Smart Money Were Not &#8220;Smart&#8221;","url":"http:\/\/ktsl888.com\/news\/in-the-bear-bitcoin-run-of-2022-smart-money-were-not-smartin-the-bear-bitcoin-run-of-2022-smart-money-were-not-smart\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/in-the-bear-bitcoin-run-of-2022-smart-money-were-not-smartin-the-bear-bitcoin-run-of-2022-smart-money-were-not-smart\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Whales.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Whales.jpg?fit=1380%2C780"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin whales"],"dateCreated":"2023-02-23T08:41:12Z","datePublished":"2023-02-23T08:41:12Z","dateModified":"2024-06-11T07:09:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"In The Bear Bitcoin Run Of 2022, Smart Money Were Not &#8220;Smart&#8221;\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/in-the-bear-bitcoin-run-of-2022-smart-money-were-not-smartin-the-bear-bitcoin-run-of-2022-smart-money-were-not-smart\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/in-the-bear-bitcoin-run-of-2022-smart-money-were-not-smartin-the-bear-bitcoin-run-of-2022-smart-money-were-not-smart\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin-Whales.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin-Whales.jpg?fit=1380%2C780\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin whales\"],\"dateCreated\":\"2023-02-23T08:41:12Z\",\"datePublished\":\"2023-02-23T08:41:12Z\",\"dateModified\":\"2024-06-11T07:09:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Whales.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/520677"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=520677"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/520677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/520678"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=520677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=520677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=520677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}