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Willy Woo | Bitcoin is brimming with bullish signals Willy Woo | Bitcoin is brimming with bullish signals

Respected analyst Willy Woo says an entire ecosystem full of BTC buyers is telling him that the market remains largely up.

In a new sequence of tweets, Woo informed

his 723,300 followers that he sees a huge distribution phase playing out in bitcoin.

Bitcoin continues to distribute coins evenly. Public and retail entities continue to gain more control over supply, while the dimension of control on the whale side diminishes.”

Willy Woo | Bitcoin is brimming with bullish signals source: Willy Woo

According to Woo, an even distribution of BTC supply is good for Bitcoin’s long-term health because it promotes decentralization

.

“Remember that the gold standard failed as a monetary standard because of the centralization of supply.”

The analyst also pointed out that the current bull market phase is being driven by retail traders (entities holding less than 10 BTC).

“Retail trading is driving macro cycles. When retailers stack their [satoshi ] atan increased rate, as they are doing now, then the fundamentals say we are in the middle of a bull market. I repeat, the middle of a bull market. Traders were in disbelief two months ago when this data was shown.”

dystrybucja bitcoin source: Willy Woo

Woo stressed that whales

(entities holding at least 1,000 BTC) have by no means stopped buying BTC.

Whales think BTC is cheap now. Whales are opportunists. They are stuck in a ten-year diversification plan, selling into every bull market after they have made their money. But they take the opportunity to buy when they see strong growth ahead, like right now.”

dystrybucja bitcoin 2 source: Willy Woo

Willy Woo finally noted that while the supply of BTC on cryptocurrency exchanges continues to decline, corporations are also in the process of accumulating bitcoin, .

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„Lhe number of coins held is a bullish signal. Corporations are holding assets long-term. They buy more and more. As long-term buyers enter the market, speculative reserves on the exchanges shrink.”

dystrybucja bitcoin 3 source: Willy Woo

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