In social media analysis on Aug. 6, the popular on-chain analyst stated that big upturn awaits Bitcoin as well as the wider crypto market

Bitcoin is preparing a “full bull” BTC price phase in classic style, according to market cyclist Cole Garner.

In social media analysis on Aug. 6, the popular on-chain analyst stated that big upturn awaits Bitcoin as well as the wider crypto market.

BTC price action continues to be flat, but those looking further into the future are certain that this cycle is just like any other.

For Garner, activity among the biggest-volume cohort of Bitcoin investors — the whales — is one such reason for hope.

Whale accumulation trends are a bull market’s backbone, Garner said.

He linked to findings from analytics team Jarvis Labs, which flagged an ongoing “multi-month buying frenzy.”

It is not just whales; smaller investors, called fish, have similarly been raising their exposure to BTC.

Continuing, popular technical analyst CryptoCon called whales “diamond hands” because of their behaviour during the current cycle.

The small investor to whale ratio is full force rising. What does this mean? The investors that have been selling this cycle (2022 – 2023) are small, whales are holding, according to the analysis from Aug. 3.

CryptoCon further said that Bitcoin’s last cycle was marked by “relentless” whale selling — something remarkably missing today.

Retail sold this last bear market, whales did not pull back, he added.

Garner in the meantime emphasised the importance of the Bitcoin-to-stablecoin ratio on leading exchange Bitfinex.

As Cointelegraph reported, this is presently displaying behaviour that has preceded every big bull run in the history of Bitcoin.

Bitfinex Whale is important. Bitfinex is the smart money exchange. Bitfinex Whale drives short-to-medium term price action, more than any other crypto entity, he added.

When such a bullish BTC price breakout could happen, though, is unknown, with Garner supporting a Q3 launch.