It has been a month and a half of little activity among the Top100 BTC Reachest Addresses.
We already know that September is not usually a good month historically for BTC, it is normally a month of losses in general, however, what we have these weeks is an agonizing back and forth around $20,500 promoted by the erratic pumps of the market Asian and the consequent dumps from the American markets, with the European market as patient spectator.
The whales on their side, see the battle "behind the barrier", they continue to accumulate more than they distribute but in a much smaller ratio and quantities than a few months ago...
It seems that they have some shy DCA system, they accumulate little by little but not in large amounts...
Everything seems to indicate that the current price level is not attractive for these "cetaceans" and that they are looking for a lower level to take more loot.
Surely, the "Merge" of Ethereum and its impact on the market capitalization is what is making these large accounts more doubtful.
The "merge" is about to be executed, once it is done, I tend to think that there will be a price drop, either due to a "SELL the NEWS" effect or due to some kind of dysfunction that could cause a problem. in the ETHEREUM network and in the rest of the TOKENS that it supports.
It is for this last reason that I think turbulent times are coming in the coming weeks in the crypto market. I think it can be an opportunity not only for these whales but for everyone to accumulate BTC at a low price.
For ETH, for the moment, I don't want to risk one bet or another. I understand the reasons for ETH to become PoS in favor of greater scalability, although I think it will put the decentralization of this blockchain and the projects built on it at risk. Of course, this is just my biased opinion...hopefully, I'm wrong.
In short, a possible strong market decline in the coming weeks and a possible "Sell the News Effect" in a few days. In addition, the risk of malfunction of the Ethereum ecosystem remains to be seen.
Enjoy!
