Widespread market uncertainty has made investors switch vigilant mode to spread to crypto assets with the value of Bitcoin (BTC) seen falling right now.
In addition to inflationary pressures and rising central bank interest rates, the crypto market is also influenced by the behavior of large investors referred to as ‘whales’.
Like to be reminded that a whale is an entity that holds a large number of crypto coins in one wallet (wallet).
The actions of such entities dumping or transferring large amounts of BTC from one wallet to another have affected prices and indirectly brought losses to small investors.
Thus, it is important for small investors to track whale movements before making investments even though BTC is global in nature and decentralized.
There are several ways to find out market trends by tracking whales including:
Monitoring the address of known whales, this way will give the best clues and increase the chances of discovering their trading patterns in the market.
Investors can also track whales through order books and trade flows on crypto exchanges in determining the market patterns left by whales.
In addition, abrupt changes in market capitalization can also provide information on whale trading patterns.
The crypto community also uses free services such as information from Twitter regarding the transmission and receipt of whale volume in transactions.
Meanwhile, a survey revealed data in the largest BTC holding chain is seen refusing to act on current prices and the matter is supported by a study by VlockTrends analyst, Cause Oliveira.
He found that the whales were 'hibernating' with their wallets not showing any sudden movement at this time.
