Lưu trữ cho từ khóa: whales

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Bitcoin price retests $65k; thanks to whales and sharks

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Bitcoin price retests $65k; thanks to whales and sharks

Bitcoin price retested the important resistance level at $65,000, driven by ongoing accumulation by whales and sharks and strong technicals.

Bitcoin (BTC) has entered a technical bull market after rising over 21% from its lowest level this month. According to Santiment, this price action has been largely fueled by increased accumulation by whales and sharks.

MicroStrategy, the largest corporate Bitcoin holder, has been at the forefront of these purchases. Earlier this month, the company bought coins worth $458 million, bringing its total holdings to 252,220. 

Institutional investors have also been increasing their Bitcoin purchases. Data shows that all funds have seen inflows for five consecutive days, with net inflows this month totaling over $600 million.

These gains have been attributed to falling interest rates in many countries, rising global money supply, and recent stimulus measures by the Chinese government. The government plans to inject $142 billion into the economy. All these factors have contributed to a risk-on sentiment among investors, as evidenced by the rising fear and greed index.

Bitcoin is also reacting to the surging US public debt, which has jumped to over $35.4 trillion, with annual interest payments nearing $1 trillion. Traders believe that Bitcoin and gold are better alternative assets to hedge against a default risk.

Additionally, Bitcoin’s price has held steady due to improving technical indicators. It formed an inverse head and shoulders pattern, avoided a death cross pattern, and the Relative Strength Index has continued to rise, indicating that momentum is building.

However, Bitcoin is not out of the woods yet. A clear bullish breakout will be confirmed once it moves above the upper side of the descending trendline that connects the highest swings since March.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

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Whale unstaked $30m in SOL; will Solana crash again?

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A Solana validator, with a history of price fall, unstaked a large amount of the asset again as the market saw a mild correction.

On-chain data shows that a Solana (SOL) whale unstaked 200,000 tokens over the past three days. The validator then deposited the assets, worth roughly $30 million, to Binance, the largest cryptocurrency exchange by trading volume.

According to data from Solscan, the validator unstaked and sold 1.2 million SOL, worth $178 million, between June and July. That caused the Solana price to plunge from $170 to $125 in less than three weeks.

Solana witnessed a pretty similar sentiment to the whale’s movements. According to data provided by Santiment, the weighted sentiment around Solana on social platforms on June 7, when the validator started unstaking.

SOL price and sentiment – Sept. 26 | Source: Santiment

The social sentiment around the asset has been constantly declining over the past week and is currently seeing a neutral momentum.

It’s important to note that the current $30 million is almost six times lower than the $178 million selloff four months ago.

Solana recorded a 9% price hike over the past week and has been consolidating around the $150 mark in the past 24 hours despite the market-wide correction. 

SOL price and RSI – Sept. 26 | Source: crypto.news

So far, there have been no signs of a massive SOL selloff and the asset’s daily trading volume decreased by 33%, currently hovering at $1.9 billion.

Per data from crypto.news, the SOL Relative Strength Index is sitting at 48. The indicator shows that Solana is in a neutral zone — neither overbought nor oversold — at this price point.

If the broader crypto market continues its upward momentum, SOL’s price fall is unlikely, but caution would be advised.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

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Worldcoin remains unfazed by whale selloff, rises 17% in 24 hours

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Worldcoin witnessed a strong whale selloff yesterday, Sept. 25, but the asset still continued its upward momentum.

Worldcoin (WLD) is up by 17.3% in the past 24 hours and is trading at $2.12 at the time of writing. The asset’s market cap surpassed the $1 billion market again, making it the 69th-largest digital currency.

WLD’s daily trading volume also recorded an 85% rally, reaching $430 million.

According to data provided by IntoTheBlock, large Worldcoin holders recorded 6.23 million WLD — worth $13.15 million — in outflows on Sept. 25. The indicator shows that the number of whales selling the asset was much greater than the ones accumulating.

WLD price and large holders net flows – Sept. 26 | Source: IntoTheBlock

Whale selloffs usually hint at times of panic or profit-taking, both of which lead to price declines. At this point, WLD has recorded a 32% price surge over the past week, remaining unfazed by the large whale selloff.

Per a crypto.news report on Aug. 21, Worldcoin’s 40% plunge below the $1.4 mark put over 92% of its holders at a loss. 

Data from ITB shows that the number of WLD holders suffering losses has declined to 68% at the reporting time. 

One of the bullish drivers for the WLD price was the recent announcement from the company. Worldcoin revealed that it launched World ID in three more countries — Guatemala, Malaysia, and Poland.

It’s important to note that price hikes on the back of big announcements have shown to be short-lived. If the whale selloff continues, a price correction would be expected for the WLD price.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Altcoin

Render price recovers amid whale accumulation

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Render, a decentralized graphics processing unit-based rendering solutions provider, is seeing a notable price recovery as large wallet addresses aggressively accumulate the native token.

The Render (RENDER) token ranks as one of the top artificial intelligence and decentralized finance cryptocurrencies by market cap. After its native token plummeted to $4.50 on Sept. 7, Render has shown significant resilience, reclaiming support above $6.00.

RENDER price ‘bottomed’

According to market intelligence and on-chain insights provider Santiment, Render is showing recovery buoyed by large address accumulation. This comes after the artificial intelligence token bottomed out near $4.60 on Sept. 18, with bears rejecting bulls’ attempt to push higher around $5.35 a week earlier.

Most altcoins experienced significant volatility during this time, with related tokens such as Bittensor (TAO) soaring.

Gains for Render have largely been muted, but the bullish shift amid whale accumulation has seen its price rise by more than 33% over the past week. This upside has coincided with a fresh spike in artificial intelligence-related tokens.

Whales bought the Render dip

Whales and sharks took advantage of recent pullbacks to buy low. For Render, this was a notable occurrence, as pointed out by Santiment analysts in an post on X.

On-chain data shows that these large holders possess at least 100,000 Render tokens. About 902 addresses hold 100,000 or more tokens, with large holders controlling 91% of the total supply.

In the past eleven weeks, these large wallets have accumulated over 20.5 million Render tokens, valued at more than $126.3 million. During this aggressive accumulation, whales and sharks added 3.7% of Render’s total supply to their holdings.

While the whales adopted a bullish stance on the altcoin, investor wallets appear to have sold off sharply. In the past month, investors dumped 21% of their holdings, which whales absorbed. Retail investors also purchased more tokens, adding 3.6% to their portfolios.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

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Ethereum surged 15% in 7 days despite whale sell-off

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On-chain data shows increased selloff from Ethereum whales over the past week. But the asset’s price remained bullish.

According to data provided by IntoTheBlock, net flows for large holders of Ethereum (ETH) decreased from 85,650 ETH in inflows on Sept. 19 to 6,420 in outflows on Sept. 23. 

ETH large holders net flows, Sept. 23 | Source: IntoTheBlock

The indicator shows a strong sell-off from Ethereum whales as the price recovered from $2,300 to $2,400 on Sept. 19. At this point, the bullish momentum around the ETH price has mostly come from retail traders rather than large holders.

Data from ITB shows that Ethereum witnessed an exchange net inflow of 150,690 ETH on Sept. 19, but the inflows soon cooled down. ETH saw a net inflow of around $480 million into centralized exchanges over the past seven days.

The large holder to exchange net inflow ratio suggests that retail traders have been more active over the weekend, driving the asset’s price up.

Despite the selloff from whales, ETH gained 15% in the past seven days. The leading altcoin is up by 2.2% in the past 24 hours and is trading at $2,640 at the time of writing. Earlier today, Ethereum touched a local high of $2,685 — reaching this level for the first time in a month — as on-chain signals remained bullish.

ETH 1-hour price chart, Sept. 5-23 | Source: crypto.news

Ethereum’s market cap is currently sitting at $319 billion with a daily trading volume of just over $17 billion. 

One of the main catalysts for the market-wide bullish momentum was the 50 basis-point rate cut by the U.S. Federal Reserve. However, the Ethereum price will need to see stronger accumulation to sustain its upward movement toward the $2,800 mark.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

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Whales are buying Pendle after BitMEX co-founder sold it for a loss

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On-chain data shows a large amount of Pendle inflow into whale addresses a day after Arthur Hayes, co-founder of the BitMEX crypto exchange, sold the asset.

Lookonchain’s X post shows that Hayes sold 1.59 million Pendle (PENDLE) for $5.62 million last week. This brought a $1.29 million loss to the former CEO of BitMEX.

Data shows that Hayes deposited and sold the Pendle tokens on Binance, the largest cryptocurrency exchange by trading volume.

Since the selloff, Pendle witnessed increased on-chain movements from large holders. According to data provided by IntoTheBlock, the token’s whale net flows shifted from 366,310 PENDLE in outflows to 436,860 Pendle in inflows on Saturday, Sept. 21.

PENDLE large holder net flows – Sept. 22 | Source: IntoTheBlock

The indicator shows that large holders accumulating Pendle have dominated the whales selling the asset. 

Meanwhile, the number of large transactions consisting of at least $100,000 worth of Pendle declined from 30 to 17 on the same day, per ITB data. 

On the other hand, the volume of large transactions has steadily increased since Sept. 19. In simple terms, only a few of the largest PENDLE holders might have accumulated the token after Hayes sold most of his holdings.

Pendle gained 28% in the past 24 hours and is trading at $4.29 at the time of writing. The asset’s market cap is hovering around $690 million with a daily trading volume of $380 million.

PENDLE price – Sept. 22 | Source: crypto.news

Notably, whale-dominated movements could usually bring high price volatility to a cryptocurrency as many holders will try to aim for short-term profits.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

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CryptoQuant CEO: We’re in the middle of the bull cycle

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Ki Young Ju, CEO of the blockchain analytics platform CryptoQuant, believes the crypto market is still “in the middle of the bull cycle.”

According to Young Ju’s X post, self-custodial Bitcoin (BTC) wallets have been accumulating over the past week. He added that long-term holder whale addresses are showing increased interest.

Following the increased accumulation, BTC rose by 3.35% in the past 24 hours and is trading at $60,450 at the time of writing. On Sept. 17, the flagship cryptocurrency reached a local high of $61,316 with its market cap surpassing the $1.2 trillion mark.

BTC price – Sept. 18 | Source: crypto.news

The global crypto market cap also surged by 0.7% over the past day, reaching $2.17 trillion, according to data from CoinGecko. Most of the leading altcoins recorded bullish momentum with Nervos Network (CKB) emerging as the top gainer with a 17% price surge. 

Moreover, the market-wide positive sentiment comes ahead of the expectations of the U.S. Fed rate cut, which is scheduled for today. The probability of a 50 basis point rate cut increased last week as the U.S. Consumer Price Index report showed declining inflation. 

Per a crypto.news report, the CPI for August came at 2.5% while the expected rate was 2.6%. 

This will be the first Fed rate cut since July 2019 which many analysts believe could trigger bullish momentum for financial markets, including cryptocurrencies.

Data from the market prediction platform Polymarket shows that there is a 53% chance of a 50 basis point rate cut and a 46% chance of a 25 basis point rate cut.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

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TRX whale selloff cools down amid market correction

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Whales started taking profits over the weekend, but the bearish momentum seems to have cooled down.

According to data provided by IntoTheBlock, the TRON (TRX) large holders’ net outflow declined from 141 million to 8.8 million TRX on Sept. 15. The on-chain indicator shows that the asset’s whale selloff has significantly declined.

TRX price and whale net flows – Sept. 16 | Source: IntoTheBlock

Usually, declining whale activity would also mean lower price volatility.

On the other hand, the TRX exchange inflows have been constantly increasing. The token’s exchange net flows shifted from an outflow of 140 million TRX to a net inflow of 37 million TRX between Sept. 13 and 15. 

The movement could mean two things. First, retail traders might be aiming at profits. Second, small TRX holders might be wandering FUD due to the market-wide correction after a high amount of whale activity was seen over the past three days.

TRX is up by 1% in the past 24 hours and is trading at $0.148 at the time of writing. The asset’s market cap is sitting at $12.9 billion with a daily trading volume of $250 million.

Profit-taking wouldn’t be surprising for TRX holders at this point. Data from ITB shows that over 94% of the TRON holders are in profit and only 3.8%, that bought TRX at an average price of $0.156, are at a loss.

Per ITB, most of the on-chain signals are looking neutral for TRX. Consequently, a price consolidation below $0.15 would be expected unless this crucial psychological point is breached.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

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$1.3b BTC left exchanges, bulls deny losing $60k

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Bitcoin’s surge above the $60,000 zone has triggered an uptick in outflows from centralized exchanges as investors expect further bullish momentum.

According to data provided by IntoTheBlock, Bitcoin (BTC) witnessed $1.29 billion in net outflows from CEXs over the past week. The movement shows increased accumulation as most on-chain signals look bullish for the flagship cryptocurrency.

BTC CEX net flows – Sept. 15 | Source: IntoTheBlock

Most of the outflows, around 12,420 BTC, came on Sept. 10 when the asset’s price struggled below the $57,000 mark, per ITB data.

Notably, the large holders’ net flow to exchange net flow ratio shows that Bitcoin holders started profit-taking on Sept. 13 as the price reached $60,000 after falling to a local bottom of $52,600. 

Bitcoin witnessed a large holder net outflow of 9,180 BTC on the same day. The on-chain movement shows a massive selloff by whales, sending the asset’s price below $60,000. 

Expect lower price volatility

According to a Friday report by crypto.news, MicroStrategy purchased 18,300 BTC for roughly $1.11 billion despite the whales’ selloff.

However, the trend soon shifted to accumulation again on Saturday, Sept. 14, with the ratio reaching 0.43%, according to ITB.

The large holders’ net flows bounced to the positive zone, with 3,240 BTC in net inflows yesterday.

Bitcoin gained 0.2% in the past 24 hours and is trading at $60,100 at the time of writing. The asset’s market cap is currently sitting at $1.86 trillion. BTC’s daily trading volume, however, decreased by 57%, reaching $13.7 billion.

BTC price – Sept. 15 | Source: crypto.news

At this point, lower price volatility would be expected for Bitcoin as the price consolidates close to the psychological $60,000 zone. However, a decline below $59,000 could trigger a high amount of liquidations, leading to another potential downfall.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News