September 19, 2021

Santiment: "Whales" started selling bitcoins at $19,300

The recent fall in the price of bitcoin was the result of the rise of large investors or so-called "cryptocytes."

BTC, after breaking above $ 19,000, unexpectedly dropped below $ 17,000 at the end of last week. However, there was no more significant decline in the value of the digital currency.

Support intensified at a time when risks of a more significant pullback appeared. On Monday night, November 30, the bitcoin rate rose to $ 18,000.

Analysts from the Santiment team believe that players holding 1,000 or more bitcoins were the key drivers of the coin's price drop.

Their report says that 11 large investors sold their BTC when the cryptocurrency was trading at $ 19,300. By selling their coins, these whales emerged from the camp of 1000 or more bitcoins.

IntoTheBlock analysts came to the same conclusion. According to their data published on Twitter, before the fall in the value of BTC, "whales" were sending large batches of cryptocurrency to exchanges.

As a result, the centralized platforms hadplaced 93,000 bitcoins. After that, a negative correction began on the crypto market, when, after BTC, almost all the largest altcoins suffered losses.