On the evening of August 23rd, a large amount of Bitcoin, which is likely to be sold, was deposited into the exchange. This BTC was purchased 3-6 months ago and can be viewed as a whale or exchange movement, given that it ranges between 1000 and 10,000 UTXO. $20,000 to $25,000 is the average if the whale purchased this BTC 3 to 6 months ago. It are likely to sell if this whale anticipate further drop in the market or if it gets close to the average the whale purchased. It seems necessary to be wary of further short-term drop.
Written by Dan Lim
