Whales Buying the Dip | 2 Altcoins in Focus

You may have noticed that the market is sucking right now. Ethereum, after starting a nice comeback, is down 11% in the last week.

Additionally, a few altcoins we like a lot, such as Hyperliquid, Ethena, and Virtuals, are down even further. Down by 20%-30% in only a week. But do you know what institutions, whales, and smart money are doing? They aren’t selling or crying about it. They are Buying. And in a BIG WAY. In the first of 2 parts, we go into what the smart money is buying while market sentiment is so low. Let’s follow the smart money.

1) Bitcoin (BTC)

The good news is that the market looks worse than it is in reality. That means this is temporary. Let’s look at Bitcoin. It’s first on my list, but there are some good indicators here for the total market too.

First, check this out. Big Bitcoin wallets of 10 BTC or more are growing while smaller ones of 0.001 up to 10 BTC are shrinking. That means retail is getting frustrated and selling. But it also means the smart money, the big money, is buying more. This is a  HUGE bullish momentum signal for Bitcoin and also the overall market.

Then, Metaplanet is buying more Bitcoin. Another public company, this one in France, is setting up a Bitcoin Treasury strategy too. And they won’t be buying small amounts, either. Not with the $384 million they are raising. MicroStrategy keeps buying. Another $26 million last week. And inflows to Bitcoin keep coming, regardless of market uncertainty. Whale accumulation of Bitcoin continues. One day last week saw $388 million in new inflows in just one day to the Bitcoin ETFs.

All the 3,150 newly mined Bitcoins each week at a price of $100,000 means there is $315 million of new Bitcoin each week. The ETFs alone are buying 19,000 BTC in just the last 2 weeks. That’s 3x the newly mined amount. There is only one direction this can go longer term. We do say buy the dip a lot. But how much more evidence for Bitcoin do you need to see to know a supply shock is coming?

Institutions are buying. The biggest, earliest Bitcoin investors are buying more, and their wallets are growing. And you know they aren’t selling anytime the price drops 5%. A supply shock for Bitcoin is coming sooner than you think. Make sure you have some in your portfolio to take advantage of it.

What do you think about Bitcoin at these price levels? It is hovering at 100k again. Let us know in the comments below.

2) Chainlink (LINK)

It’s counterintuitive to think that a token unlock would lead to higher prices. We do a video every month on unlocks, so you will know and be prepared for volatility. And yet, another one of the big smart money buying altcoins has exactly that.

I’m talking about Chainlink. When $LINK does an unlock by sending altcoins to an exchange, it’s almost ALWAYS followed by a price increase. Which is crazy because Chainlink is one of the industry’s best projects. And often the price has not caught up to the value it’s bringing.

The $LINK whales are buying altcoins BIG. Like we saw with Bitcoin, the big wallets are getting bigger. While this is from March, look at all the heavy buying by existing holders at prices like $14.60 and $17, both higher than today’s price of $12.

The $LINK Marines, both whales and smaller holders, are diamond-handed, too. They do not sell on every 3% move and are long-term holders. They see the long-term potential Chainlink has as an RWA, cross-chain, and CBDC/stablecoin infrastructure leader.  And so do we.

3) Cardano (ADA)

With one whale at $5.5 million and a total of $310 million in June, Cardano qualifies as a smart money buy right now. Big money came in during April, too. So it’s not a one-shot deal. Or just because of some piece of news happening or not happening.

These amounts are just too large to be anything other than smart money.  One of Cardano’s top features is its community-mindedness. And that does mean, since so many stake $ADA, that it can be LOTS of small buyers. But it’s hard to think of small buyers coming up with $310 million in a month.

It’s further evidence that the market believes they are making the right moves. Hoskinson, making peace with other projects and now working on Bitcoin and XRP, is proving to be an attractive strategy for investors.

Conclusion

If there’s one thing I want you to get out of today’s video, it’s that retail sentiment is not the entire market. Yes, the market sucks right now. And yes, retail sentiment is low. Like a bear market style low. But they are not the same. While retail is frustrated, smart money is taking advantage and buying. They know things will get better. And it’s a sign for you that you should know this, too. And if you have some dry powder, you could be buying too.

It’s not only these 3 altcoins that smart money is buying. In part 2, coming later this week, you will see 3 more projects that smart money is buying. The smart money signs are out there, if you go look for them.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments; therefore, please conduct your due diligence. Copyright Altcoin Buzz Pte Ltd.