News

According to ChainCatcher, as monitored by Onchain School, PIPPIN has surged over 80% in the past 24 hours. Two wallets have been actively accumulating before and after the price increase, purchasing a total of $1.5 million worth of PIPPIN tokens. Among them: the HWBDGG wallet currently holds PIPPIN tokens valued at $4.47 million, and DywiW8 currently holds PIPPIN tokens valued at $636,000.

On December 6, on-chain analyst Murphy stated that the short-term Behavior-Weighted Trend Signal (BWTS) can be used to identify genuine long-term holder selling pressure and trend-driven capitulation behavior. This indicator not only considers whether investors are selling BTC at a loss, but also measures the forced selling of coins that have been "held for a period of time." Historical data shows that whenever the BWTS (red line) and BTC price (black line) diverge, it signals the gradual clearing of panic selling, often leading to a rebound or reversal in the market. After the Luna crash in May 2022, the BWTS, which had already returned to the zero axis, deviated sharply again, breaking the previous divergence pattern. The rebound ultimately did not turn into a reversal, but instead led to a deeper bear market. Currently, the BWTS pattern is similar to before, which can be interpreted as having the conditions for a rebound, or in other words, as long as the divergence is not broken, the rebound may not be over yet.