Whale Appears In The Recent Sale Off

@thoi
May 19, 2022

It is important to determine who is interacting during the current bear run.

Transaction volume increasing indicates that market is more active recently. To be specific, whales are moving as seen below. (chart)
Whale transactions over 100k USD increasing is often a signal for an initiated move up. (chart)
Normally, whale transactions over 1M USD increasing results in a bounce back, but this time it's not. Instead, BTC got dumped at the support with a high volume as seen below. (chart)
Huge trading volume when price going lower at support is often not a good sign in short-term. (chart)

In summary, it is clear that whales are active currently, and there is a divergence between whale transactions and bitcoin's price which is unusual.

btc crypto market
@thoi
May 19, 2022

Thanks for reading!

If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!

2

Conversations (0)

No comments yet
Be the first to comment