Whales are afraid of affecting the on-site price and are secretly trading over-the-counter.
The current BTC market atmosphere is similar to that in mid-2020, and whales may be conducting over-the-counter transactions
On May 31, CryptoQuant founder and CEO Ki Young Ju posted on social media that the current atmosphere in the Bitcoin market is the same as in mid-2020. At that time, BTC hovered around $10,000 for 6 months, and on-chain activities were active, which were later revealed to be over-the-counter transactions. Now, despite lower price volatility, on-chain activities are still active, with $1 billion added to new whale wallets every day.
