This article aims to shed light on the ongoing manipulation of the cryptocurrency market by crypto whales. It is important to note that this article is for educational purposes only and is not a financial advice. The author is not a finance advisor and the purpose of this article is to examine the impact of crypto whales on the cryptocurrency market.
Barchart Analysis
Let's take a look at the massive drop in Bitcoin . If you follow the link provided below, you'll see that the percentage change in the last five days was 20.7, which is a significant drop. If we move up to the 100 day, we can see that there has been an average volume of 84,808. This is clear evidence that the price of Bitcoin is being affected by crypto whales.
Ethereum Whales Add to Their Bags
On the other hand, Ethereum has seen large whales adding a whopping 3.5 million ETH to their portfolio, as reported by you.today. This has sparked speculation among investors who are waiting for the next opportunity to buy Bitcoin at a lower price. However, if the market continues to be dominated by bearish sentiments, it's possible that large whales will continue to add to their bags, which could lead to a boost in Ethereum's price.
Bitcoin Outflows from Crypto Exchanges
In addition, we have seen a transfer of 1.5 billion dollars in Bitcoin outflows from crypto exchanges to self-custody wallets. This is a clear sign that the whales are starting to move and take their profits. Moreover, the addresses still hold over 85,000 ETH after the multi-million dollar transfer and the price of Ethereum was up over 8% at the time of the transfer.
Conclusion
In conclusion, it's safe to say that the crypto whales are still manipulating the cryptocurrency market. They are packing up their bags and moving their wallets, which is a clear indication that something is about to happen. Whether it's a good time to buy or not is up to individual discretion, but the author believes that the whales are ready to put their bags back into crypto, which could lead to a significant increase in the price of cryptocurrencies
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