In the world of cryptocurrencies, identifying market trends and understanding the behavior of large investors can provide valuable insights for traders and enthusiasts alike. Recently, Ki Young Ju, the CEO of CryptoQuant, shared an interesting observation regarding the trading positions of significant players known as “whales.”
According to Ki Young Ju, to detect long/short positions of old whales, it is beneficial to focus on low-volume derivative exchanges. These exchanges often provide a clearer picture of individual trading activities, allowing for a more precise analysis of market behavior.
To support his statement, Ki Young Ju highlighted several examples of notable whale positions on different exchanges. The first example comes from Huobi Global, where a whale entered a long position at a price of $16,819. The second case involves a BitMEX whale who went long at $16,944. Bybit, another exchange, witnessed a whale entering a long position at $18,809. The fourth instance reveals a Deribit whale who also longed at $16,944. Lastly, an OKX whale made a move at $16,746.
While these examples provide valuable insights into the trading behavior of large investors, it’s important to note that identifying such patterns on exchanges with high trading volumes, like Binance, can be more challenging. The sheer volume of trades on such platforms makes it difficult to isolate and analyze individual trading behavior effectively.
To delve deeper into the analysis, CryptoQuant provides charts depicting the Taker Buy Sell Ratio (long/short ratio) for each mentioned exchange. These ratios represent the buy volume divided by the sell volume of takers in perpetual swap trades. By setting alerts for outliers on these charts, users can stay informed about significant movements in the market.
It is worth mentioning that Ki Young Ju’s insights shed light on a specific strategy for identifying old whales’ long/short positions. Traders and investors can leverage this information to gain a better understanding of market trends and potentially make informed decisions.
As the crypto market continues to evolve, the ability to track and interpret the actions of large investors becomes increasingly valuable. Insights like those shared by Ki Young Ju serve as valuable tools for participants seeking to navigate the dynamic world of cryptocurrencies.
Source: https://azcoinnews.com/cryptoquant-ceo-ki-young-ju-reveals-strategy-to-spot-old-whales-long-short-positions.html
