Evidence shows that whales are buying the massive bitcoin dip.
Bitcoin’s digital gold narrative was crushed in the recent selloff.
If whales are indeed buying the dip, bitcoin can eventually regain its digital gold status.
Bitcoin has wiped out many traders over the last few days. The intense selloffs coupled with extreme volatility are shaking weak hands out. We know this because the average lifespan of coins that moved in March is around one month. This suggests that those who bought between January and February this year have capitulated.