In fact, whether we consider 10 BTC as high net worth or 100 Bitcoin holders as high net worth, the result is the same. It is high net worth investors who are increasing their holdings. Of course, if one insists that only 1,000 Bitcoin counts as high net worth, I have mentioned that in previous tweets.

The reason high net worth investors are increasing their holdings is definitely not due to a bullish sentiment, that is for sure. The key point is that the increase in holdings by high net worth users aligns with the reduction of positions on exchanges, which indicates that high net worth investors are not selling off at the current price, but rather buying more.

Unfortunately, there is no concept of locked Bitcoin, but the data regarding BTC that has not moved for over 155 days, or more than 5 months, shows that this figure has been increasing since February of this year, when Bitcoin fell below 70,000 USD.

This indicates that the current investors buying BTC tend to be high net worth individuals who prefer to hold long term.

The entire thread elaborates on this reasoning; it is not about being bullish, but rather observing the actions and trends of investors, especially those of high net worth.

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