Whales are giving fresh clues as to a Bitcoin price forming, new data reveals.
event set for next week. As such, ETH markets are currently front-running Bitcoin by almost three months, explains Maartunn.
“The assumption in this thesis is that whales will deposit Bitcoin on derivates exchange to open futures positions and be able to protect their positions forming a local bottom,” the update concluded: “Important thing to notice: Ethereum is leading the market for already 80 days, mainly driven by ‘The Merge’-hype. That hype will come to an end later this month, which could have a significant impact on the crypto-market. This could heavily involve observations like this.”Major cashing out continues
Meanwhile, separate observations from monitoring resource Whalemap focused on a potential sale of 5,000 BTC, which had previously stayed dormant since Christmas 2013.
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