Based on Bitcoin (BTC) purchase records, the dumping of whales has been buying Satoshi Nakamoto’s assets since last Christmas.
The data that does not separate between institutional investors and individual investors shows that they make BTC purchases continuously even as the price of the currency soars.
The question arises, why this trend occurs when the purchase is usually made when the price of Bitcoin declines.
According to CEO CryptoQuant, Ki Young Ju there are only a handful of whales selling the assets and more institutional investors are buying, pushing the Exchange Whale Ration below 85%.
There are two reasons why this trend occurs:
1. Whales believes Bitcoin will surpass the $ 30,000 price level.
2. There is no potential for major corrections in the near future
However, if Bitcoin consolidates at every surge as witnessed lately, it is not impossible that the fund rate will return to normal.
At that time the derivatives market will be calmer, bringing about the possibility of a new surge.
As bitcoin demand in the US market begins to subside, the asset is likely to consolidate for a long time with low volatility rates.
