Bitcoin And Ethereum: Are Whales Preparing For A New Crypto Bull Run?
CryptoNewsTerminal Staff11 Sep, 2024
Bitcoin And Ethereum: Are Whales Preparing For A New Crypto Bull Run?
While the crypto markets have been in a relatively quiet consolidation phase over the past few weeks, there has been a significant decrease in large transaction volumes from whale addresses. This could be a sign that whales are preparing for a new bull run. According to IntoTheBlock, a crypto market data analytics platform, large transaction volumes from whale addresses have been decreasing significantly since mid-last month. For Bitcoin, transactions above $100k have decreased by 33.6% since their peak in March/April, while for Ethereum, they have decreased by 72.5% over the same period. However, IntoTheBlock also points out that this should not be interpreted solely as a bearish signal. Whale addresses tend to be equally active in bull and bear markets, but they tend to sit on the sidelines during periods of extreme greed or fear. So if you're a crypto investor, don't panic if you see a decrease in whale activity. It could simply mean that they're waiting for the right moment to make their move. And when they do, it could be a sign that a new bull run is about to begin.
