Bitcoin and other major cryptocurrencies have decreased their price in the crypto world. It is observed that since 2021, the crypto whales have been dumping their Bitcoin holdings. According to analysts, crypto whales are dumping Bitcoin, whereas retail investors are grabbing BTC tokens.
Nothing is hidden from the fact that Whales and large institutional holders are dumping a massive amount of Bitcoins for one year. They accumulated many tokens till 2021 when there was a high rise in late October and early November. However, a year later, Bitcoin’s price dropped drastically to -58% in 2022. The market is looking for an indication of large investors ready to jump again in BTC to push prices up after the market has seen a consistent fall this year.
Hope within traders still exists as the stablecoin market capital has grown since May 2022. Still, the situation of the rise in interest rates of FMOC and recession takes back the investors’ decision. It indicates that these whales and large investors are holding their stakes in the US and world banks instead. With the ongoing uncertainty throughout 2022, Cryptocurrencies have become unappealing to the whales.
Investors would eagerly wait to see Bitcoin prediction and the rise in the largest stablecoins in their market capital again. And if it happens, then Bitcoin and other cryptocurrency prices would justify a rise while the low activity rate of whales in Bitcoin and Ethereum.
Many factors can raise crypto market capital upward even with the whales staying away without any contribution. As the investors hold tightly and continue to dump their stablecoin, Bitcoin, and Ethereum holdings mildly, it can still be uncertain of a favorable outcome. Overall, it indicates that institutional investors are positive towards digital assets, with interest being in a growing phase.
Source : news.google.com/__i/rss/rd/articles/CBMiW2h0dHBzOi8vd3d3LmNyeXB0b25ld3N6LmNvbS93aGFsZXMtZmx1Y3R1YXRpbmctaW50ZXJlc3QtcHVzaGVzLWNyeXB0by1pbnRvLWEtc3RhdGUtb2YtZmx1eC_SAQA?oc=5 undefined - October 31, 2022