What are Bitcoin whales?
Bitcoin whales are individuals or organizations that own large amounts of Bitcoin and are able to influence the market through their trading strategies. The term "Bitcoin whale" is often used to refer to holders who own a large amount of Bitcoin compared to smaller players, who are often referred to as "minnows" in the market. The owner of a wallet or cluster of wallets controlled by one entity may be an individual or a group that is pooling money for a large investment. Their large holdings are accumulated through mining, early investments, and other methods. Whales can hold large amounts of Bitcoin, which gives them the ability to manipulate the market through large purchases or sales of assets that cause price fluctuations. In the cryptocurrency space, large whales and extreme volatility are often linked.
