Bitcoin (BTC) Whale Event
Apparently Binance and BitMex seem to be the main destinations for large Bitcoin stacks carried by whales. Also, the fact that the BTC drop is occurring after whale entries estimates that whales can be caused by price collapse.
This result bothers many investors in the crypto community. In fact, there are some reports that price collapse is an act of capitulation by inefficient miners. Such problems have disturbed the crypto community for years.
Bitcoin (BTC) Miners
According to information from CryptoQuant, it seems that Bitcoin miners are not effective in the price drop. Indeed, the current chart data shows that some small miners are affected by the price drop but most miners are pending. In this case, miners play a big role in keeping the market in balance and preventing whales from manipulating the market widely by buying it when it rises and rises. If the miners do not sell, the current BTC already in circulation will increase in demand and price, which will prevent whales from giving large-scale direction to the market.
