"Whales" are actively moving coins to sites, and after the decline in the bitcoin exchange rate from $12,000 to $10,500, this process has only intensified, said cryptoquant CEO Ki young Ju. He noted that some holders send BTC for sale, while others send stablecoins for purchase.
This week, the cryptocurrency market will see a clash of buyers and sellers, said the head of the analytical service CryptoQuant Ki young Ju in his Twitter account. He said that large holders of bitcoins have started transferring their BTC reserves to exchanges.
For the first time, the service recorded the influx of cryptocurrency to trading platforms on July 30. Coins were sent not only by ordinary users, but also by major players. At the same time, stablecoins were moved to exchanges along with bitcoins. Perhaps this was one of the reasons for the fluctuations in the BTC exchange rate that occurred yesterday, August 2. The price of the asset first rose above $12,000, and then within 5 minutes collapsed to $10,500.
In another post published after the rapid decline in the price of BTC, Ju added that the influx of bitcoins to trading platforms has only increased. Separately, the head of the service noted that a significant part of the transfers are made by major players.
"Large investors send bitcoins to exchanges. Other whales send stablecoins to exchanges. This week, there will be a battle between the arrival of stablecoins and bitcoins on the exchanges. These receipts indicate the potential of the buyer and seller… Since my last tweet, the influx of BTC has only increased, " Ju wrote
On July 31, another analytical service Glassnode reported that "whales", on the contrary, began to actively buy cryptocurrency. Against the background of the recent increase in the price of bitcoin to $11,000, the number of wallets with a balance in BTC of $1 million or more increased by 38%, to 18 thousand addresses. This discrepancy may be due to macroeconomic factors. On the one hand, large investors can transfer capital to cryptocurrency, fearing the depreciation of the dollar due to its growing emission. On the other hand, those who bought digital assets during the March downturn to $3,800 could begin to fix 200% of the profit received.
