“Whales” began to sell Bitcoins, when the Price Reached $ 19,300
“Whales” began to sell Bitcoins, when the price reached $ 19,300
The negative fall in the price of bitcoin was the result of the activation of large investors or so-called “crypto whales”.
As a reminder, BTC, after breaking above $ 19,000, unexpectedly fell below $ 17,000 at the end of last week. However, there was no more significant decline in the value of the digital currency.
Support intensified at a time when risks of a more significant pullback appeared. On the night of Monday, November 30, the bitcoin rate rose to $ 18,000 on the BitXmi crypto exchange.
🐳 $BTC whales with 1,000 or more coins held (currently $16.7M or more) sold off nearly immediately after the $19.3k price top two days ago. 11 of these whales actually sold off enough to no longer be in this 1,000+ coin category, just as prices peaked. https://t.co/v16fnvbE6m https://t.co/XwDKvzZN5q pic.twitter.com/vkgMCx7qZT
— Santiment (@santimentfeed) November 27, 2020
Analysts from the Santiment team believe that “whales” holding 1,000 or more bitcoins have been the key drivers of the coin’s recent fall.
Their report says that 11 large investors sold their BTC, the end of the cryptocurrency was trading at $ 19,300. Having sold their coins, these “whales” left the camp of 1000 or more bitcoin holders.
IntoTheBlock analysts came to the same conclusion. According to their data published on Twitter, before the fall in the value of BTC, “whales” were sending large batches of cryptocurrency to exchanges.
As a result, 93,000 bitcoins were placed on centralized platforms. After that, a negative correction began on the crypto market, when, after BTC, almost all the largest altcoins suffered losses.
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