Joao Wedson

A distribution phase happens when retail investors are highly convinced that the market will keep going up.

A redistribution phase happens when there is a feeling that the bottom has already happened, and retail investors still believe in more upside even after a major previous drop.

An accumulation phase happens when the market has already worn out retail sentiment. At that point, the asset is rejected, and many people question its fundamentals, believing it is no longer worth it.

Accumulation is the most boring phase for price action, because the price does not rise, volatility is low, and boredom is extreme. But it is during accumulation that you can build wealth.

Be skillful in identifying which phase your favorite asset is in.
Only then will you have any real financial success. https://twitter.com/joao_wedson/status/2034973491603095736#m

CryptoCon

Despite a 52% decline from the cycle top and some indicators at cycle bottom levels, the long-term holder needle hasn't really moved.

Their levels are still showing the highest offloading and the least interest in buying.

And looking at the track record, they know their stuff.