"Whales" bought more than 10 thousand bitcoins ($BTC ) during the fall in the coin's price from $99 thousand to $90 thousand, crypto analyst Ali Martinez reported, citing Santiment data. This rate correction lasted five days - from November 22 to 27.$CTXC $SKL
The term "whales" refers to large holders of cryptocurrencies, such as MicroStrategy or Tesla. Their addresses store from 1 thousand bitcoins and more on their balances. At the same time, these assets are usually managed by experienced market participants, and therefore small investors try to track the movements in the crypto wallets of "whales" and include them in their analytics. There is an opinion that if whales start selling coins, this may foreshadow a fall in the rate. And, conversely, if "whales" replenish their reserves, the price of cryptocurrency may go up. However, in the case of this information, attempts to manipulate the market cannot be ruled out. After Bitcoin fell below $91 thousand, its rate reversed. At 17:40 Kyiv on November 28, BTC is trading at about $95.8 thousand, it has risen in price by 1.2% in a day.