Bitcoin whales move record BTC value as indicator warns of price volatility

Bitcoin analysts are now watching short-term volatility as whales begin to show unprecedented behavior.

New data shows that in addition to being active in the market, whales are moving record amounts of BTC.

Whale activity peaks when prices are above $ 60,000

Although BTC price action is hovering in a narrow and unattractive range around $ 40,000, high volume Bitcoin investors remain calm.

In the past few weeks, whales have moved more than ever – even more as BTC hit highs of $ 60,000 and above.

In addition, transactions worth $ 10 million or more recently hit $ 10 billion.

“Whales move record numbers of bitcoins in 2 last week. The total volume transferred through the transaction is + $ 10 million continue to maintain the youngest ATH. It’s even higher when the price is $ 55-60,000. “

Further analysis of their actions shows that different species of whales show different reactions to recent price events.

follow data This week’s on-chain analysis of the material indicators shows that “smaller” whales were sold while the investor with the greatest volume added to their positions.

“Whales sold BTC, super whales bought, and purple whales followed with another buy order. When trying to understand these whale games, think about the thin liquidity they create to drive prices up. “


job of Bitcoin whale | Source: material indicators

There is no resistance between the current spot prices of $ 42,000 and $ 46,000 as BTC has been repeatedly rejected above $ 44,000.

Suspect Bitcoin “fast and volatility“under 40,000 won dollar

Meanwhile, Waldaten warn of possible price volatility.

The “whale ratio”, which shows the size of the top 10 inflows in relation to the rest, is approaching a level that has led to volatile price movements in the past.

“Normally we would consider this a short-term sale, but since Bitcoin is in key areas, we need to make sure the price stays above $ 40,000. Price movements below USD 40,000 can be quick and volatile, ”said on-chain analyst CryptoQuant comment on 09/28


Whale price table on the stock exchange Bitcoin | Source: CryptoQuant

It’s likely that if BTC loses support at $ 40,000, then $ 36,000 will be the ultimate floor.

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Minh Anh

According to Cointelegraph

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