This morning, as soon as I opened my eyes, $BTC Bitcoin crashed again. Over 500 million was lost in just one hour. Everyone is asking: Who dumped the market?
I checked the on-chain data: Three days before the crash, an ancient giant whale that had been asleep for 14 years continuously sold off, and then quietly transferred 1000 Bitcoins to Binance. The last transaction of 500 just happened to arrive before this morning's crash. #巨鲸交易
This is definitely not a coincidence.
This person bought the coins before 2012 at a cost of less than 10 yuan each. Now, just selling 500 will earn him 47 million dollars. He still has tens of thousands of such coins in his wallet. He is a true big shot!
Why is he selling at this time?
My personal analysis is that he is not pessimistic about Bitcoin; otherwise, how could he hold for 14 years? Rather, he is very wise. Those who hold for 14 years without selling are already not short of money. Now, moving the chips seems more like a stress test—taking advantage of high market heat and much leverage, to see how deep the water is by making a splash.
Causing panic and blowing up the longs, he might come back and buy at lower levels. I think he is using profits to acquire more chips!
On the other hand, Wall Street's ETFs are still buying every day. In fact, this is not contradictory; the whales come to play market games, while institutions come to make long-term allocations. In a bull market, some people get off the bus while others get on.
So there's no need to panic; whale movements do not mean the bull market is over. On the contrary, every time he wakes up, it's a reminder to us: there are always people in the market with lower costs, more chips, and more patience than us. #宏观数据 #链上分析
Understanding his actions allows us not to be washed out during the wild ups and downs. After this test, do you think he will continue to dump or quietly buy?