Just before Bitcoin halving was about to take place, an enigmatic figure captured the attention of the entire community: Mr 100. Amidst discussions of Bitcoin’s journey towards becoming the hardest asset and speculation surrounding market movements, the mystery surrounding Mr 100 deepens.

In this blog, we’ll try to unravel the mystery of Mr 100 and explore some data-driven insights, from leverage hunting to stacking behaviors and Mr 100’s actions, along with their implications for the crypto space.

What Happened 48 Hours Before Bitcoin Halving?

As the countdown to a significant event unfolded, the crypto community faced potential market turbulence. With only two days remaining, there was huge speculation regarding major market movements. Amidst this anticipation, a market trend hinted at a strategic movement known as the leverage hunt that underscored the calculated nature of market dynamics.

What is The Leverage Hunt?

Bitcoin’s volatile nature often depends on the strategic movements of market participants seeking to capitalize on price fluctuations. Before the halving event, Bitcoin witnessed a notable dip, plunging to $59,000, triggering a frenzy of leverage hunting.

Despite market turmoil, Mr 100’s strategic purchases amidst this chaos raised questions about their motives and identity. With only 90 million liquidated in the last 24 hours, predominantly affecting long positions, the volatility underscored the importance of emotional detachment when navigating the markets.

STH Cost Basis – A Reliable Indicator of Bull Market Floor

Being a part of the crypto community, traders and investors understand Bitcoin’s wild price movements. Identifying key support levels becomes paramount. Historically, the Short-Term Holder (STH) cost basis has served as a reliable indicator of the bull market floor, which stood at $58,500 before the halving event. Coincidentally, this aligns with the leverage-hunting activity observed, reinforcing the notion of informed decision-making amidst market uncertainties.

Even Before 48 Hrs, Mr 100 Bought More Than Daily Issuance

Amidst the speculation surrounding Mr 100’s identity and motives, some data unveiled intriguing insights into their behavior. Despite the veil of anonymity wrapping Mr 100, their consistent stacking behavior raised questions about their true identity. Unlike typical exchange cold wallets, Mr 100’s stacking patterns and regular purchases diverged from conventional norms, suggesting a deeper purpose behind their actions.

Breaking: 2,032 in 1 Week. 8,000 in 1 Month

In recent weeks, before Bitcoin halving, Mr 100’s stacking activities reached unprecedented levels, accumulating over 2,000 Bitcoin in just one week and exceeding 8,000 Bitcoin in a month. Such significant accumulation amidst market uncertainty underscored Mr 100’s confidence in Bitcoin’s long-term potential and their strategic position in the crypto landscape.

New Chart: Avg BTC Consumption/Day incl Mr100

As Bitcoin halving approached, the actions of influential entities like Mr 100 had profound implications for market dynamics. With the introduction of Hong Kong ETFs into the market and Mr 100’s strategic stacking behavior, the stage is set for remarkable growth and transformation within the crypto ecosystem.

Conclusion

In the enigmatic world of cryptos, Mr 100 remains a captivating figure, challenging conventional wisdom and sparking speculation. As Bitcoin’s journey continues, the mystery surrounding Mr 100 serves as a reminder of the complexities inherent in this burgeoning ecosystem. Whether Mr 100’s identity is ever revealed or not, their impact on the crypto market is undeniable, shaping the future of digital finance in ways yet to be fully understood.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.