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Bitcoin Whales Sell Assets In ...

Bitcoin whales sell assets during weak exchange activity
CONTENT

  • Bitcoin price seems to be manipulated by whales.

  • Large holders of cryptocurrencies prefer to create turbulence during a lull on exchanges.

  • Bitcoin is likely back into bearish trend.

International consortium of news organizations developing transparency standards.

It seems that the large cryptocurrency holders are deliberately creating volatility in the cryptocurrency market for personal gain..

Large bitcoin owners tend to actively sell their cryptocurrencies during times of weak trading activity on exchanges. This is the conclusion reached by the head of the analytical agency CryptoQuant Ki Yang Joo.

Joo wrote on his Twitter page that bitcoin whales intentionally sell large volumes of cryptocurrency when trading activity on exchanges reaches its minimum..

Bitcoin Whales Sell Assets In ...

As an example of such a tactic, Joo gave a graph of the rate of flow of funds on cryptocurrency exchanges, based on the activity in the Bitcoin blockchain network..

The left graph shows that whales tend to sell cryptocurrency when trading activity (red broken line) falls.

Strictly according to plan

It is noteworthy that on March 11 (the day before the collapse of the cryptocurrency market) the activity of money turnover on exchanges reached its monthly minimum. 

It was then, according to Ju, that the whales got rid of their assets, which became the impetus for a further collapse of the market..

Ju concluded that until recently, the whales followed the following strategy:

  • Low activity on the exchange – whales begin to sell assets;
  • The activity on the exchange is increasing;
  • The number of deposits from small traders is growing.
  • Bitcoin Whales Sell Assets In ...
  • Activity continues to grow;
  • Small traders start selling assets, lowering the price;
  • Whales are buying assets at a collapsed price.

Back to the bottom

Now the head of CryptoQuant believes that Bitcoin has entered a bearish trend, citing the activity of whales on the Gemini crypto exchange.

Beginning June 15, the volume of bitcoins on the Gemini exchange, beloved by bitcoin whales, began to decline steadily..

[perfect_survey id = ”8579 ″]

Joo sees this decline as similar to the March collapse, as a result of which the price of bitcoin fell to the level of $ 3800.

However, a completely different opinion is held in the consulting agency Delphi Digital Inc.

Referring to the statistics of the Glassnode resource, the agency reported that digital addresses with a balance of 1000+ bitcoins are permanently getting rid of assets every time the price of bitcoin turns into a bullish trend..

What do you think? Are whales deliberately selling bitcoin during a lull on exchanges? Share your thoughts with us in the comments and join the discussion in our Telegram channel.

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