Anthony Pompliano, the co-founder of Morgan Creek Digital, is analyzing on-chain metrics to determine if Bitcoin (BTC) whales are accumulating crypto tokens when it is trading close to $30,000.

Pompliano informed his YouTube subscribers that most of the BTC whales have been quiet during the recent slump in the market. 

Pompliano also stated that for BTC prices to raise it is essential that whales start buying BTC. This means that no upward movement in the prices of Bitcoin should be expected until there’s an up stick in the activities of the whale. 

Pompliano is also keeping track of the net realized profit/loss metric, to keep track of Bitcoin holders and their activities in the market. 

Profit metric is also being regularly reviewed by Pompliano, for Bitcoin’s percent supply. According to Pompliano, the metric is showing signs that the king crypto could be bottoming out. 

Currently, BTC is trading at $ 34,553.  

Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investing.

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