{"id":608626,"date":"2024-05-17T19:00:31","date_gmt":"2024-05-17T19:00:31","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=608626"},"modified":"2024-06-11T07:04:27","modified_gmt":"2024-06-11T07:04:27","slug":"bitcoin-whales-quiet-down-heres-why-and-what-it-means-for-the-market","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin-whales-quiet-down-heres-why-and-what-it-means-for-the-market\/","title":{"rendered":"Bitcoin Whales Quiet Down – Here’s Why And What It Means For The Market"},"content":{"rendered":"

Recent data<\/a> from Santiment indicates a noticeable decrease in Bitcoin whale activity, reaching the lowest levels seen in 2024. This trend shows that holders of large amounts of Bitcoin, known as whales, are drifting away from active trading.<\/p>\n

While this could signal a negative trend, the situation presents a complex picture of the cryptocurrency’s market dynamics.<\/p>\n

Despite the fall in whale activity, the total number of Bitcoin wallets with at least 100 BTC remains high, at 11.79 million BTC across 15,907 wallets.<\/p>\n

\"Bitcoin
Bitcoin Whale transactions trend. | Source: Santiment<\/a><\/figcaption><\/figure>\n

Historically, increased activity from these large holders has often preceded significant price movements in Bitcoin, suggesting that their current quiet could lead to various market outcomes<\/a>. The question remains: What does this reduced activity mean for the market’s future?<\/p>\n

Related Reading: Is Bitcoin\u2019s Rally Over? Top Analysts Predict Imminent Price Corrections<\/a><\/div>\n

Analyzing Whale Activity: What This Means For Bitcoin<\/h2>\n

A decline in whale activity could initially be interpreted as an indicator of lower market volatility. Significant moves by these large holders can profoundly affect Bitcoin’s price, often resulting in abrupt and unforeseen fluctuations.<\/p>\n

\n

\ud83d\udc33 While #Bitcoin<\/a>‘s 100+ $BTC<\/a> whale wallets continue to hold a high level of coins (11.79M), whale activity has dropped to its lowest level of 2024. There are currently 15,907 wallets holding at least 100 coins. It would be a #bullish<\/a> sign if this rises. https:\/\/t.co\/nldtOms3aT<\/a> pic.twitter.com\/Lyj4Epfp9a<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) May 16, 2024<\/a><\/p><\/blockquote>\n

Consequently, a diminished presence of whales might lead to much market stability<\/a> and predictability in the near term. However, this stability might contradict the typical trading behavior associated with crypto, where volatility often presents trading opportunities.<\/p>\n

Moreover, if these whales hold onto their Bitcoin rather than sell, this behavior could be interpreted as a long-term bullish signal<\/a>. It suggests that these influential market players see the potential for future price increases and are choosing to hold their positions.<\/p>\n

This perspective is reinforced by the current trading price of Bitcoin, which is above $66,000, marking a nearly 5% increase over the past week.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Indicator Shows Further Surge Ahead<\/h2>\n

Adding to the analysis, Willy Woo, a prominent crypto analyst, discussed the latest trends in the BTC volume-weighted average price<\/a> (VWAP) Oscillator. The VWAP is a trading benchmark that measures an asset’s average price based on price and volume over a specific period.<\/p>\n

This metric prioritizes price levels with higher trading volumes, offering a more comprehensive view of market trends<\/a>.<\/p>\n

Woo\u2019s analysis revealed that the Bitcoin VWAP Oscillator has been in negative territory for several months but has recently started to rise. The oscillator could soon reach a neutral point if this upward trend continues.<\/p>\n

Related Reading: The Hidden Forces Behind Bitcoin Price: Latest Insights From On-Chain Data<\/a><\/div>\n

This shift often signals that a bullish phase is on the horizon, based on historical patterns where the oscillator\u2019s rise from negative to neutral has coincided with substantial price gains for Bitcoin.<\/p>\n

\n

Still a lot of room to run before reversal or consolidation.<\/p>\n

Hate to be a trapped #Bitcoin<\/a> bear right now. https:\/\/t.co\/LGet9XVoQY<\/a> pic.twitter.com\/EgJ47mzNLG<\/a><\/p>\n

\u2014 Willy Woo (@woonomic) May 16, 2024<\/a><\/p><\/blockquote>\n

Featured image created with DALL\u00b7E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Recent data from Santiment indicates a noticeable decrease in Bitcoin whale activity, reaching the lowest levels seen in 2024. This trend shows that holders of large amounts of Bitcoin, known as whales, are drifting away from active trading. While this could signal a negative trend, the situation presents a complex picture of the cryptocurrency’s market dynamics. Despite the fall in whale activity, the total number of Bitcoin wallets with at least 100 BTC remains high, at 11.79 million BTC across 15,907 wallets. Historically, increased activity from these large holders has often preceded significant price movements in Bitcoin, suggesting that their current quiet could lead to various market outcomes. The question remains: What does this reduced activity mean for the market’s future? Related Reading: Is Bitcoin\u2019s Rally Over? Top Analysts Predict Imminent Price Corrections Analyzing Whale Activity: What This Means For Bitcoin A decline in whale activity could initially be interpreted as an indicator of lower market volatility. Significant moves by these large holders can profoundly affect Bitcoin’s price, often resulting in abrupt and unforeseen fluctuations. \ud83d\udc33 While #Bitcoin‘s 100+ $BTC whale wallets continue to hold a high level of coins (11.79M), whale activity has dropped to its lowest level of 2024. There are currently 15,907 wallets holding at least 100 coins. It would be a #bullish sign if this rises. https:\/\/t.co\/nldtOms3aT pic.twitter.com\/Lyj4Epfp9a \u2014 Santiment (@santimentfeed) May 16, 2024 Consequently, a diminished presence of whales might lead to much market stability and predictability in the near term. However, this stability might contradict the typical trading behavior associated with crypto, where volatility often presents trading opportunities. Moreover, if these whales hold onto their Bitcoin rather than sell, this behavior could be interpreted as a long-term bullish signal. It suggests that these influential market players see the potential for future price increases and are choosing to hold their positions. This perspective is reinforced by the current trading price of Bitcoin, which is above $66,000, marking a nearly 5% increase over the past week. Indicator Shows Further Surge Ahead Adding to the analysis, Willy Woo, a prominent crypto analyst, discussed the latest trends in the BTC volume-weighted average price (VWAP) Oscillator. The VWAP is a trading benchmark that measures an asset’s average price based on price and volume over a specific period. This metric prioritizes price levels with higher trading volumes, offering a more comprehensive view of market trends. Woo\u2019s analysis revealed that the Bitcoin VWAP Oscillator has been in negative territory for several months but has recently started to rise. The oscillator could soon reach a neutral point if this upward trend continues. Related Reading: The Hidden Forces Behind Bitcoin Price: Latest Insights From On-Chain Data This shift often signals that a bullish phase is on the horizon, based on historical patterns where the oscillator\u2019s rise from negative to neutral has coincided with substantial price gains for Bitcoin. Still a lot of room to run before reversal or consolidation. Hate to be a trapped #Bitcoin bear right now. https:\/\/t.co\/LGet9XVoQY pic.twitter.com\/EgJ47mzNLG \u2014 Willy Woo (@woonomic) May 16, 2024 Featured image created with DALL\u00b7E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":608632,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,441,629,678,19064,1119,78790,6664,10923],"class_list":["post-608626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-bitcoin-prediction","tag-bitcoin-whales","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market"],"acf":[],"yoast_head":"\nBitcoin Whales Quiet Down - Here's Why And What It Means For The Market<\/title>\n<meta name=\"description\" content=\"Recent data from Santiment indicates a noticeable decrease in Bitcoin whale activity, reaching the lowest levels seen in 2024. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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