Why Are More Whales Moving Their BTC?

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Quote from: Newchanka on November 14, 2021, 10:17:24 AM

Saw this on Twitter and wonder what it portends
https://twitter.com/ki_young_ju/status/1459856955841802243

So, the chart shows it is positive, if we compare this chart with the chart of 2017, the movement of such a large amount took place just before the bull run. In the same way, I think there is going to be another bull run this November and throughout December. Most probably it is a sign of a $100k cross.

fiulpro

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Fact is even if it's a whale they might try to put a little chaos in the market by doing so, which evidently happens every once a while, people see it and then get very scared if it would cause chaos or if the price would fall and the new investors generally sell their coins amidst panic but the fact is you don't even know if it's a whale and even if it's a whale you don't even know if they wanna sell.

Therefore these kinds of news and posts are something that I think might be the best to ignore. At the end of the day the market is very suggestive to such posts but one thing you need to learn about investing is to not panic.

Quote from: Wind_FURY on November 15, 2021, 10:35:07 AM

Quote from: DeathAngel on November 14, 2021, 11:47:46 AM

There’s no way of knowing who those entities are. It could be exchanges moving funds, it could even be OTC sales, without context it’s an impossible, wild goose chase.

The tweet said, although it can’t be verified, that the largest transactions didn’t come from exchanges. Plus I believe Ki Young Ju just wants to show that there was a very big surge during 2017, after those large movements. Cool

No way of knowing what's gonna happen what we can do is to wait and watch. I do think we have already seen bitcoins soar up so high we might not see that huge surge for sure.

Wind_FURY

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Quote from: DeathAngel on November 14, 2021, 11:47:46 AM

There’s no way of knowing who those entities are. It could be exchanges moving funds, it could even be OTC sales, without context it’s an impossible, wild goose chase.

The tweet said, although it can’t be verified, that the largest transactions didn’t come from exchanges. Plus I believe Ki Young Ju just wants to show that there was a very big surge during 2017, after those large movements. Cool

NeuroticFish

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There are more companies handling Bitcoin in 2021 than in 2017 and most don't have their addresses known. Moving coins around, reorganizing, consolidating the inputs, moving to multisig, there are many possibilities.

Then, when certain companies buy bitcoin, they use other companies' services. This can translate into at least one "whale" withdrawal from one or more exchanges, one transfer from the OTC intermediary to the actual buyer and possibly one consolidation/reorganization, all "whales".

The exchanges also put away funds in multiple wallets/cold storage, not all of them being known.

So yeah, there are plenty of ways big funds to get moved without them telling us what they do and why.

Yaunfitda

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Quote from: Yamifoud on November 14, 2021, 07:58:07 PM

Whales are transferring their funds into the exchange to buy more before the next ATH hits again, that's what I think.

I doubt that a 'real whale' will do that, because it attracts so much attention, would rather do OTC. If there's one thing that the whale should do, it should be the opposite, not putting all their big btc in an exchange.

Quote from: Yamifoud on November 14, 2021, 07:58:07 PM

This is a little alarming but nothing to worry about but this gives an insight that there is a possible surprising thing to happen in the market a few days from now. We have to still calm down and have to prepare for what happens in the coming days. For now, it was a need to monitor the progress of this movement since we don't know where it comes from and what is the real purpose of that.

We are still not sure about it, as others have pointed out, there's not way to pinpoint whether it's really a whales or an exchange or maybe some crpyto bookies moving their stash somewhere safe. So I doubt that there's something big gonna happen in the market in the next coming days. If there is, then it's just coincidence.

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Quote from: Little Mouse on November 15, 2021, 07:22:16 AM

Where's the proof that whales are moving their BTC? It says tx has been increased which is more likely to be true because BTC adoption has also increased. It is also possible that the addresses belong to some custodial services, or it also possible that someone is selling OTC but OTC won't make a difference I think.

The chart itself is the proof. It's the mean amount of BTC transfered per transaction so it means that there's a lot of big Bitcoin transactions happening off-exchange. I don't know exactly how interpret because it's just like watching other people online bank account transactions publicly since there's no description on each tx, It's very hard to understand what will be the effect on the market. Only one thing is for sure, There will be a huge volatility happening on the market soon since this untap Bitcoin is now moving and actively changing hands.

It's either on upside or downside so we must trade safe.

Little Mouse

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Where's the proof that whales are moving their BTC? It says tx has been increased which is more likely to be true because BTC adoption has also increased. It is also possible that the addresses belong to some custodial services, or it also possible that someone is selling OTC but OTC won't make a difference I think.

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Quote from: Newchanka on November 14, 2021, 10:17:24 AM

Saw this on Twitter and wonder what it portends

https://twitter.com/ki_young_ju/status/1459856955841802243

The problem is that we don’t know their intentions whether to just simply move it or selling them for good. But mostly because of BTC’s surge into new heights, it made them decide to move their funds to another wallet or exchange.

Mpamaegbu

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Quote from: pooya87 on November 15, 2021, 01:03:31 AM

It "portends" that price has started going up again and some people have a hard time accepting they made a mistake so they keep coming up with nonsense and post it on the internet.

I like this angle of thought. It's common practice for weak hands to whine like babies once their dump expectations aren't meant. I was once misled by social media comment (Twitter, to be precise) on a particular project. I panicked and sold early, only to see that project blossom a few weeks later. Since then I have learnt to always do my research before I dump any crypto I'm hodling.

Besides, I concur with you that these transactions shouldn't be anything out of place. They happen now and then. It's just that people pay more attention to them whenever Bitcoin is on the spotlight because of price rally.

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Sometimes I wish I was a whale, just so I could randomly move things across different wallets at different times, just to see the news. I could even drop some hints to newspapers and get paid as an informant (not that I need money) and reporters will look up to me like I'm a whale guru.

Even better, send 1 satoshi fees during peaks and let it get stuck in mempool for everyone to wonder.

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Quote from: Newchanka on November 14, 2021, 10:17:24 AM

Saw this on Twitter and wonder what it portends

Given that the CEO of Cryptoquant references the metric posted on his own website, which is hidden behind the signup button, it portends the potential increase in the number of registered users of Cryptoquant. Other than that, nothing unusual has happened. Some users, knowing that there is no force exist to prevent them from transacting in the Bitcoin network, made their transactions and, apparently, were happy with the result since all the transactions had been successfully confirmed. If some people making their transactions affect your emotional state, your trading strategy, or simply make you panic sell, that's only your problem.

Quote from: crwth on November 15, 2021, 01:30:15 AM

Is it safe to assume that the next part that would happen is another price increase, just like what happened around in 2017?

Assuming that the price of bitcoin will increase is just laboring the obvious.

crwth

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Is it safe to assume that the next part that would happen is another price increase, just like what happened around in 2017? Is the report from 2017 the same as what the whales are doing? Like moving assets? It's most likely speculation that it's whales and not exchanges because there could be other exchanges that are just moving balances between the same wallets or something like that.

pooya87

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Quote from: Newchanka on November 14, 2021, 10:17:24 AM

Saw this on Twitter and wonder what it portends

It "portends" that price has started going up again and some people have a hard time accepting they made a mistake so they keep coming up with nonsense and post it on the internet.
Large amounts of bitcoin moving is a more common thing than you'd think if you checked the blockchain at any time. The difference is that people put it under magnifying glass each time they want to spread FUD.

Fundamentals Of

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The only fact here is that there are large amounts of Bitcoin moved from one wallet to another. That's just it.

The rest are purely speculations that may or may not have any basis at all. So if this is an indirect way of saying there must be large dumping soon, then it does not have the proof. If this is meant that people are moving their funds into safer wallets, it is good. But again there is no way we could tell.

There is no answer as to why the funds are moved. Any answer is simply a guess.

joniboini

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It's almost impossible to find the reason if you only has this much data to work on with. Should've spend more time on analyzing the chart instead. Who knows what the 'whales' are doing, doesn't matter if it doesn't translate to retail activity. It can also means that they're moving their coins around to pay their debt, who knows.

Yamifoud

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Whales are transferring their funds into the exchange to buy more before the next ATH hits again, that's what I think.
This is a little alarming but nothing to worry about but this gives an insight that there is a possible surprising thing to happen in the market a few days from now. We have to still calm down and have to prepare for what happens in the coming days. For now, it was a need to monitor the progress of this movement since we don't know where it comes from and what is the real purpose of that.

TimeTeller

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Quote from: romero121 on November 14, 2021, 07:50:46 PM

There is no price drop with bitcoin by the time, if now this could've been connected as the reason for the drop in the price of bitcoin. As bitcoin is speculative by its features, whales at times try to make disturbance in the market. This is the past, now things have changed and people doesn't react to it.

They don't react anymore because speculating them as whales is baseless.
We can never be sure of these movements, so you're just wasting your time chasing after these "whales".
So instead of checking them, you can always take care of your own portfolio and mind your own business.
Nothing will be gained by criticizing every movement of these possible whales.

romero121

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There is no price drop with bitcoin by the time, if now this could've been connected as the reason for the drop in the price of bitcoin. As bitcoin is speculative by its features, whales at times try to make disturbance in the market. This is the past, now things have changed and people doesn't react to it.

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Quote from: amishmanish on November 14, 2021, 12:15:01 PM

I don't know what that "BTC tokens transferred Mean" actually means coz the website was asking for registration.

According to cryptoquant that chart is "The mean amount of BTC transferred per transaction."

As you can see on the chart there are big fluctuations those are transactions with a huge amount of BTC that is why they called it whales who are moving or transferring BTC to another wallet or might be deposited to exchanges.

There is no way to know unless if you use some advanced tools.

sunsilk

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It's always a hype whenever there are records of huge funds being transferred. Just as said, there's the interest that everyone is putting on if it's about huge funds but you can never know where they are up to and who owns them.

And you should stop putting that much attention to random tweets that are showing charts and with a few text without any verified source. "Not from exchanges". So, from whom? individual whales? Grin

Topic: Why Are More Whales Moving Their BTC? (Read 213 times)