According to Will Clemente, Bitcoin is now experiencing a supply shock

Analyst Will Clemente says he is closely monitoring the performance of two types of Bitcoin investors as BTC continues to trade above $ 30,000.

Clemente said a supply-side crisis could brew as investors with solid hands or little sales experience stormed BTC amid falling price moves.

“Bitcoin is building up heavily right now. There is a supply shock. There was a clear bullish divergence in the buy action of confident investors versus price, but look at the big spike that printed last night. This force moves against the price. “

Source: Will Clemente / Twitter

The analyst adds that whales or units with more than 1,000 BTC stocks bought tens of thousands of bitcoins in a short period of time.

“And look at this surge in whales. Whales added 64,137 BTC to their pockets yesterday. “

Source: Will Clemente / Twitter

According to Clemente, the massive accumulation of whales and investors is likely to come as the amount of Bitcoin stored on the exchanges has plummeted over the past seven days.

“The stock market balance fell by -24,259 BTC in the last week. It is currently trending sideways. “

Source: Will Clemente / Twitter

Clemente says looking at the on-chain signals makes him optimistic about Bitcoin in the coming months. Stressing the need to look at the apparent bullish divergence in September 2020 and January 2021, he suggested that investors’ ability to accumulate a lot during those months resulted in a significant spike in the stock value of BTC.

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According to Dailyhodl

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