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Does Bitcoin show signs of accumulation?
Binance’s sender-to-receiver ratio became his lowest since the beginning of 2024, a sign of growing Hodler behavior.
Are altcoins in a purchase zone?
Only 24% of the Binance-raised alts are above their 200-day SMA, a pattern that is linked to accumulative phases.
Bitcoin’s [BTC] Held his ground and became stronger.
Even with long -term holders (LTHs) who were able to cash in in some winning, barely bumped BTC and rested near $ 110k to September.
But now the BTC sender-to-receiver ratio of Binance has just fallen and only 24% of the Binance-Genter Alts act above their 200-day MA.
The majority of the market looks like it accumulates in preparation for something bigger.
Fewer senders, more Hodlers?
The MA of 1 months of Binance’s Bitcoin sender / recipient ratio Just hit the lowest point Since the beginning of 2024.
These metric numbers how many people send BTC versus receiving; And when recipients begin to dominate, this indicates accumulation. Fewer people sell and more are just tight in clear terms.
Source: Cryptuquant
Spikes in this ratio are so far in line with market tops. So a sharp fall? That can mean the opposite that there is room for more.
The month passed
And here it becomes even more interesting.
Despite signs of accumulation, September was not exactly quiet. Binance -Data shows that LTHS started to take a profit when the prices swing from $ 117k to $ 108k.
But instead of activating a panic, the market hardly collapsed.
Source: Cryptuquant
The majority of the movement came from coins that were held between 6 months and 5 years, with the category of 7-10 years only showing light activity.
The real test was that BTC remained remarkably stable near $ 110k, even when these older coins came on the market.
That is not what you would expect during a sale. It is more like the market has taken the hit and made it!
Altcoins are still in the bargain bin
While Bitcoin holds strong and take the lators without shaking the floor, Altcoin Market has its own story.
Only 24% of the Binance-raised Altcoins act above their 200-day SMA; Far away from the type of levels we see during the bullmarkt euphoria.
Source: X
When this number falls almost zero, it is usually a fairly reliable marker for large accumulative phases.
In other words, the smart money may already be shopping. It is not flashy, and it is absolutely not trending … but that may be exactly the point.