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Bitcoin whale moves holdings, leading to huge market chaos and speculation

The term “whale” refers to a trader with a large amount of money in the financial markets. Because of the size of whale traders’ positions, these investors are able to influence the market to move in either direction when they place large buy or sell orders.

Over the past 10 days, the Bitcoin network has witnessed suspicious activity by Bitcoin whales as they moved around 15,000 BTC. The most notable difference between regular coins and moving amounts is the date they were last used. Most of these tokens belonged to investors who bought BTC in 2014.

Are whales responsible for falling prices?

Technically speaking, a one-time injection of 15,000 BTC into the market could result in a massive drop and liquidity problems for the first cryptocurrency. However, while the net amount is significant, it cannot be the only reason for the recent collapse in assets.


CoinGlass reports that the cryptocurrency market has Liquidated over $350 million. Despite the seemingly large and significant volume, the gradual sell-off of 15,000 BTC in the market could not have resulted in such a large spike in liquidations.

As recently reported, whales move most of their older funds to the Kraken exchange and may try to sell them before prices drop significantly. However, most experts believe that the main reason behind the correction has to do with the upcoming rate hike and continued strengthening of monetary policy.


Bitcoin is consolidating at the July level and has yet to break below it. It is clear that current price levels still correspond to strong psychological and historical support levels, which may help prevent the cryptocurrency from sinking.

Most sentiment indicators return to extreme fear. Bitcoin’s Relative Strength Index shows that the asset is oversold. However, it could still fall even lower if new macroeconomic factors weigh heavily on the crypto market.

As of today, Bitcoin (BTC) is trading at 18,796, down nearly 6% at the time of writing

How to track whale activity?

Most in the altcoin market. Among cryptoassets with a market cap of less than $100 million, the market will fluctuate wildly if a “HODLer” decides to sell a portion of their portfolio, or if a big buyer joins.

It is important to understand the wealth distribution of smaller altcoins before investing. Also, you have to keep an eye on the order book for whales.

The first thing you can do in order to identify whales is to monitor the wallet addresses of the largest holders as well as exchange wallets to be alert for any major changes in cryptocurrency.

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