Bitcoin Whales Awakened to the Rising: The Signal That Was Flying Before Was Active Again!

CryptoQuant analyst said that the signal that previously brought an increase in Bitcoin (BTC) was active again.

The analyst of on-chain analysis platform CryptoQuant included Bitcoin in an analysis he recently shared. Stating that whales interested in futures transactions have started to open more positions recently, the analyst emphasized that these positions are mainly in the long direction.

Similar signals last brought serious increases in June 2023 and January 2024.

He pointed out that such periods in which futures whales take long positions have worked as signals before the rise in the past, and hinted that investors should be careful about sudden movements:

Bitcoin market sentiment is fearful and the funding rate has turned negative. During such periods in the past, deposits into Bitcoin futures have increased and the price has actually increased. This is a good opportunity for futures whales to open long positions.

According to CoinGecko data, Bitcoin, which has increased by 2% in the last 24 hours, is traded at $ 63,700 at the time of writing.