Are coins quietly changing hands?
“A whale withdrew 774.77 BTC from an exchange, worth approximately $63.36 million.”
When news like this breaks, I ask three questions about the flow of funds:
1. Are large orders skewed toward buying or selling?
2. Has trading volume for $BTC (24-hour volume: $1.065 billion) increased noticeably?
3. Are large holders making unusual withdrawals from trading platforms?
Only when all three point in the same direction can we say the market has validated the news; otherwise, it’s probably just noise.
First, figure out whether this is a new development or old news being recycled.
“A whale withdrew 774.77 BTC from an exchange, worth approximately $63.36 million.”
When news like this breaks, I ask three questions about the flow of funds:
1. Are large orders skewed toward buying or selling?
2. Has trading volume for $BTC (24-hour volume: $1.065 billion) increased noticeably?
3. Are large holders making unusual withdrawals from trading platforms?
Only when all three point in the same direction can we say the market has validated the news; otherwise, it’s probably just noise.
First, figure out whether this is a new development or old news being recycled.