Where Are Crypto Whales Moving Money as the Market Slides?
Crypto whales are executing mixed strategies, including profit-taking, shorting, and accumulating, amidst a market downturn.Summary
As the crypto market erased weekend gains, on-chain data revealed that large holders, or whales, were moving significant amounts of Bitcoin (BTC) and Ethereum (ETH), signaling varied strategies. One whale withdrew $78.15 million in ETH from Binance after likely profiting from a short position, while another reduced leverage by selling ETH at a loss. Bitcoin saw substantial deposits to exchanges, including a 500 BTC transfer to Kraken by an 'OG' whale. Beyond majors, whales showed interest in altcoins like ASTER, with Binance founder Changpeng Zhao announcing a personal purchase, though some traders subsequently shorted ASTER. In derivatives, some smart traders increased long exposure on BTC, ETH, and SOL, while others initiated highly leveraged short positions on ETH, indicating positioning for continued volatility.
(Source：BeInCrypto)