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Despite Bitcoin plummeting in value, it seems that whales haven’t lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.

The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 — it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of ‘Extreme Fear.’

Source link here (https://beincrypto.com/bitcoin-whale-withdraws-89m-btc-despite-bloody-market/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc)

Look guys, I know how it feels when we are in a bloody market. Correct me if I’m wrong, but there will be two scenarios about this Bitcoin whale:

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.

Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.

If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

Scenario 3  Coincheck moved some bitcoins from one cold wallet to another.

But that doesn't match the whole bloodbath scenario, whales are manipulating the price, we must find a culprit for the dump and hang him, right?
If there is a huge transfer in the blockchain, there must be some illuminate doing some funny business.

Seriously, stop following whale alerts. 99% of them are useless stuff!

I seriously doubt this move has something to do with what is happening to the prices right now. The move is not something that is very special and should be interpreted as a curious case. There are always movements of huge amounts of Bitcoin in normal days, during the times when there are no dumps and no pumps either, but it should not really be treated as a whale trying to manipulate the market. What do you expect from a hundred billion market? That the movements of BTC will be limited to hundreds and thousands only?

Spot on.

Remember the fuss last week about "spam" transactions and it turned out an exchange was simply trying to consolidate all their dust?

Because bitcoin is pseudonymous, we simply don't know what is actually happening when coins move from one wallet to another.

We do not know who moves BTC, but such movements trigger the imagination and thanks to this they can manipulate the price. This is speculation and we are now seeing it very clearly, how after two - three information, on market is coming panic. In my opinion, whales test market sentiment. What happened means that there is still no stabilization, but it could have been worse. If now the price starts to rise, it will be a very good sign.

such move will really pull the price down and make holders panic, any those scenario , people who where hoping to get the profit will panic and sold their bitcoins thats even gonna make the price lower
such result will make the whale happy because he/she will have the chance to bought the price at the lower rate and then start again the same process over and over again, this will also give negative impact
to the community which currently is already lost a lot , i know a lot of people already take big blow when they thought that hitting 13k usd dollar price will trigger to a higher price , and resulted the other way around
i just hope that this will be recovered , or be stable or else this will be a big setback

These coin movements are always a huge thing that the media covers. If it's confirmed that it was transferred to an exchange then that amount is considered to be sold but as mentioned.

It could just have been sent to a cold storage and the owner just want to keep it to another wallet. And due to the market fluctuations and plummeting, they're highlighting that it's part of the cause.

Hear hear. Who are these whales exactly, and wouldn't there be a teeny weeny chance that people have panicked by the Binance raid news, for instance, or maybe just some others withdrawing fiat money for Black Friday. Who'll tell.

It could also be a way to flee the market. They do not act according to the crowd and constantly buy before the bad information. It is also possible that they transfer assets from one exchange to another. 12,000 Bitcoins may be the property of a certain exchange, they are changing their wallets to ensure safety.

Maybe you're right in your scenario examples, but I think these bitcoin whales will come back when they see a good opportunity to buy bitcoin again. And I think when this happens we will see the price of bitcoin rise again, and then there will be a panic buying that can pump up the bitcoin price again and the market will return to normal.

I really try not to watch and count other people's money if I can help it, but in this case, since my money is tied into crypto, it is affected by another's money and transactions because they have the biggest stake within the market and the community. That's my only caveat with Bitcoin and Cryptocurrencies, if a whale decides to, they could literally crash the whole damn market just by shifting a few thousand Bitcoins around.

in my opinion, big traders are playing bitcoin prices, Big traders are lowering the price of bitcoin so that it makes people panic and participate in selling bitcoin, and when the price becomes very cheap, a large trader will buy it back, so he can get a lot of profit.

I am surprised that in general someone kept such amounts of BTC on the exchange. It can also can be a exchange cold wallet. I think Coincheck should dispel the rumors and at least deny or confirm whether they are their funds or not. If this was a private person, then it should be a good sign for us, because it means that whales increase confidence in the market situation.

I've never heard of Coincheck, but I'm assuming that's an exchange.  It must be a relatively trustworthy one if a whale was willing to use it for such a large purchase.  I had to look it up, and apparently it's a Japanese exchange.  Why am I not surprised that it's probably a Japanese whale responsible for that transfer?  And I'm not saying that in a bad way at all.  To the contrary, there are a lot of very good investors in Japan who have a lot of money to throw around, and more power to them.

I liked this quote from the article:


Very true.  Smart investors start buying when there's a bloodbath in an otherwise valuable market.  Nothing much has changed in the world of crypto in the past couple of weeks except for prices, and it's a good play to be buying when everyone else is selling.  That's how you make a profit (with a little bit of patience, of course).  Bitcoin might not even be done with its plunge, but I still think $7200 or whatever price this person bought bitcoin at is a good buy.

Stop following big movements on the blockchain and create rumors about it as if it’s a single new event. Some are still being held hostage by the thought of some anonymous dude owning up huge amounts of money and moving it through the blockchain when in fact it could just be an exchange moving funds from A to B. With the volatility and craziness surrounding bitcoin for the better part of its existence, everyone should have been used to these events happening, but apparently not everyone is used to it just yet.

What you should always understand is that not everybody in the crypto space sees bitcoin as an investment entity but rather a digital currency for payment of goods and services. And also, I don't really think this person purchase the bitcoins at a high price compared to the price now. In January this year, Bitcoin was worth around $3k. All those who purchased bitcoin in January can sell their Bitcoin now and still make profits rather than lose. They can make about 50% profit out of their initial investment capital...

meanwhile i am getting scammed and loosing my btc !

As the market is experiencing blood bath, whales will try to make the market to crash to the maximum possible. What's been done is just a way of manipulation for large volume investment. To the expectation there is no big crash based on the huge volume of funds getting moved between cold wallets. If it has got affected, now we could've reached $6500.

I doubt the whale sold that Bitcoin at this price even if he had the Bitcoin since 500$ price as he would have had so many other chances to sell it so most probably an exchange simply moved the deposit from address A to address B for security reasons.

If the scenario from above is not the one ...then we're going to see 4k$ Bitcoin very soon as I doubt a whale could sell that amount of Bitcoin just because he needed too which is probably not going to happen. Also there are massive blockchain transaction every week so don't give them too much attention, people moving Bitcoin every time and so do exchanges.

If you checked this transaction, you would see that he did not sell anything. On the contrary, it has a total of over 17k BTC.

https://www.blockchain.com/btc/address/3LCGsSmfr24demGvriN4e3ft8wEcDuHFqh

I'm not a Blockchain specialist, but for me this address looks like the wallet of some large Bitcoin mine.

Anyway, this whale sells almost nothing (if anything) but accumulates funds. For me it's a positive signal.

Maybe he bought when the price started to decrease and now wants to hold it till it doubles. Rather than an individual this most probably could be a miner or an exchange or an investment firm. The good news is many people are positive for the price of bitcoin to bull. And when everybody believes something, it becomes the reality.

What is the relationship between your case and what is being discussed by the OP ?
Try to take your time and read the rules before replying to comments. Better than having to answer off-topic.

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Monitoring whales that play with the market will only make us even more afraid to hold bitcoin. Maybe we will react because of them, but think twice more before following them.

How did he say that it was withdrawn from the market? In what exchange? Yet it is still part of the circulating supply, which important is not lost. It's not bothering me though, its only a small part of 21 million BTC. You really don't know if he was a holder for a long time ago, and seeing the current situation of the market now maybe he is afraid of losing more profits.

Here you have transaction details:

https://whale-alert.io/transaction/bitcoin/facf8d643677c5a27aed31ef23e224bd1a8e33cb631a8480a12e1d18fa1ff7a7

It looks like this address:

https://www.blockchain.com/btc/address/336xGpGweq1wtY4kRTuA4w6d7yDkBU9czU

Belongs to https://coincheck.com/ exchange

Well, actually, the price did rise a bit compared to where it was 24 hours ago. I also wanted to point out that the fact that the price did not suffer any further losses after the big sale, it might suggest that the person/company simply moved the coins, like stompix suggested, rather than sold BTC to someone else. The price might not recover right away, and honestly, it seems that the most likely fake info about the Binance Shanghai office closed by the police requires more clarification. After all, it was probably the reason behind the drop, and many people might still believe that, which can be an obstacle to Bitcoin's way towards recovering.

base on the article we are not really sure if they sell their coin or just move it.
but there is also some scenario where a whale is selling their coin to scare some holder for the price to drop and buy back at the lower price.
it always happens before and usually, it happens when there is incoming halving or some potential price rise.

We're talking about $89M here and not $89,000, I just can't imagine a scenerio where someone forked over over a $100 million just to buy bitcoin and HODL especially someone who has so much funds to begin with.

It's likely just an exchange or a fund moving their BTC to a cold wallet, that's what I think happened.
I just don't buy this idea at all, if he had bought it at a lower price 'Years ago", do you think he would have left it in an exchange all this while? Surely someone who is smart enough to buy that amount of bitcoin at a very low price years ago is smart enough not to leave it in an exchange for years.

I'm so tired already of these whale alerts, what's the point of telling people about every big transaction on the blockchain? Did you ever hear about SWIFT or Visa boasting how they move billions in a single transaction? No, because no one cares, so why should we care about it in Bitcoin? A transaction is just data, one cent or one trillion, it's just bits in computers.

And these whale alerts aren't even good for speculation, there's a lot of false positives with exchanges and services moving their coins, and even if it indeed was a whale, it doesn't mean that they are going to immediately trade.

if you notice, when they move btc between one wallet and another, look a few hours later there is a real wave of transactions to the exchange. every time this happens, there is a big movement that occurs in the bitcoin price.

They still trade part of the percentage for periodic accumulation, this type of whale still wants to enlarge their btc assets and play with little profit.

Most likely this whale bought at a much lower price and possibly added to his balance and is just moving to cold storage while he waits for a big bull run in a year or so.  He probably doesn’t see more trading or buying opportunities for a while.

The third scenario in my opinion could be, he bought all the necessary BTC and withdraws to his wallet and waited for the next rally, Anyway, a huge amount of money on the exchange was not. is a wise choice.

They think people with big money are the ones to follow. There's this popular assumption that rich people have to know how to make money, otherwise they wouldn't be rich in the first place. Why is this wrong? Because seemingly rich people sometimes bet other people's money, a great example is Madoff who used to trade 100 million dollars like it's nothing, but it wasn't his money. Brokers also lose sometimes, you can't be always right.

Could be many reasons for that movement.  ::)  A whale might have used that BTC to manipulate prices and he/she just wanted to withdraw it to

make sure he has full access to it when the market goes crazy. We know exchanges find some reason to temporarily shutdown their services when

huge price movements takes place, so it is natural for the whales to move coins to cold storage in times like this. It could even be a Chinese miner

that is moving his hoard off exchanges (because they are targeted in China) and just moving it to cold storage. Luckily for us, Bitcoin is pseudo

anonymous, so nobody will know what people's trading strategies and personal finances are.  ;)

I think that they are moving more towards Exchanges, possibly they are taking positions, something like chess, and many whales are ready for their movements, but when withdrawing and entering money in Exchanges as it is currently happening, I think that the market will take new turns, it can Who are testing the offer at low price levels for a possible bullish rally, may occur.



The detail of the information here: https://decrypt.co/12001/92-of-institutional-investors-still-leave-their-funds-in-exchanges (https://decrypt.co/12001/92-of-institutional-investors-still-leave-their-funds-in-exchanges)

That would be some sort of precaution. That certain whales might be thinking that for another bearish which makes him/her take action first before it happens. I believe he/she was worried for now, the downtrend motion more often badly think about the possible losses if he never gets his/her funds. Or, they look for another opportunity with altcoins.

But knowing that amount, it certainly big enough that they have to take care of.

most certainly, the whale who is responsible in selling the 89 million worth of BTC bought it in a lower price, and I highly think that he/she figures out that the market will turn out to continue to fall and enter the bear market again. So even before his investment reached its loss, he already converted to secure his/her profit in the market. This is a great way to make sure we aren't losing even the market is falling. I highly believe soon, if the market reaches the dip, this whale will surely come back and buy the dip, which will encourage everyone to do the same thing.

Exactly. I really don't find any sense in following these big Bitcoin holders on what they are doing with their assets. They own them, so they have all the right to do whatever they want to do with them. That is one essence of Bitcoin, and I am talking about freedom. We should stop blaming anybody who is moving his Bitcoin from one wallet to another as if the life of Bitcoin and that of all of us are hanging on the line because of what someone is doing. We have to leave these people alone, and we should stop listening to crap news like this. At the same time, we should also stop listening to any development in China as if Bitcoin is an invention of the Chinese.

I prefer the second scenario because it already happens so many times in the past, where these whales are doing exit profit since it's holiday and they can't wait for the next halving I'm sure that they still have Bitcoin in their wallet.
Another scenario is these newbies who did not invest what they can afford to lose and are afraid of the doomsday scenario, like losing their investment.

scenario 3= he does not care about when he bought the currency instead what he is targeting wil be the upcoming bear when he can purchase in much lower value of BTC.

maybe he bought at $8k but it doesn't matter if the price of bitcoin will fall again to 3-4k$ right?that's the most important thing in his decision.

though all of this are speculative because we have our own reason why we are buying or selling.

and greater movement 44000 BTC ($294M) (https://www.blockchain.com/btc/tx/822f61dfa7a73e54d108ed7f7804498c7b7ce1768b85a5ee44c0da216348b6f9) are we going to 3000 again?

Agree to that, whales knew about possibilities and taking actions much earlier gives them more benefits, we can't denied the fact that in every sets of actions this whales are always eyeing for opportunities. The actions that they will take brings them the expectations that they wanted to earn from this industry, we need to carefully analyze every actions to take as whales can easily doomed our positions.

lol nothing that will happen again about that low,$300 is the lowest we've got from the Hype of 2017 and looking the market movement there are no indication of happening again that huge fall.yeah we are dipping but not enough to have a Bear movement again.
and there are only few in speculation that talks about that low aside from those FUDders that w already knew the intentions.

idk maybe it's FUD, but I see some predictions saying it could happen again, if bitcoin fails to bullish 7500, I don't know if I should be happy or worried if bitcoin goes down, on the other hand, of course many people expect prices to fall to get low prices, but I'm also afraid that bitcoin keep going down futher.

6500$ support is weak support so possible to deeper down strong support @ 6000$ . 7000 is the new resistance right now and breaking that will be the first milestone for the bull to regain control of the market. But on this fck up world of crypto. No one knows what will the whales do on their holdings. They already gain significant profit if they short on leverage trading from the last 2 weeks.

No one knows. I hope that bitcoin price will not go to $3000, and $6,500 will be the lowest price of bitcoin. After the bitcoin price reaching the lowest price, bitcoin will start to rise again so we can back to make a profit again. Hopefully, there are not too many people who will panic to see if the price will be down for more, and I hope that they can hold their bitcoin and not going to sell it in the downtrend.

It's not some are interested but the thing is every time whales dump huge amount of bitcoin it has a domino effect on the market. However, that 12,000 bitcoin just move to an external wallet and it didn't mentioned that he sold it.

What I speculate is that whale simply plan to dump the market as so buying more afterwards. An instant profit it is and squeezing out from the weak hands will be the target.

yes no one knows, but it still might happen, you can see the charts in 2018 months 11 and 12, I'm afraid bitcoin movements will be the same as that year, the decline occurs at the end of the year and get the lowest point at 3000, but let's see if support at 6000-6500 is able to hold it.

It looks like it's not just about FUD. Such large BTC transfers made by whales, with current price drops, do not mean anything good. As we can see, no one sells, so this should be a good sign for all of us, but the charts show that investors and traders are worried a lot.

I agree with this, because the pope could have bought it cheaply and pulled it to prevent the exchange from going bankrupt and not keeping it there, I see here it seems like he just pulled out of BTC from the coincheck exchange originating from Japan, I described many people throwing away bitcoin cheaply and let the big whale take it from his hand, but I will laugh again when high prices people buy it back, big whales have strong trust

Man If I have that huge amount of BTC I would really store it somewhere cold. Exchanges these days are very incompetent dealing with such huge amount.

Anyone who would invest such a huge amount would surely secure it very carefully. However, it is worrying for the entire market why someone is moving such sums at this moment. We all know that whales like to manipulate the price, so surely many investors are worried that if someone is moving so huge amount, it can be used to dump the price.

they think there will never be a loss to throw away at this time, chances are they also know if there will be a big decline they can buy more at a lower price.
I think of course there is some kind of manipulation, we can see history from behind every halving will occur.

Perhaps this whale has a much more profitable business that currently requires investment. Bitcoin account was his reserve and now it's time to withdraw Bitcoins. There are much more than two scenarios, but most likely it was a necessary measure since the whale lost millions of dollars

It seems you haven't read what this thread is about. This whale has withdrawn its BTC from exchange, so the situation is exactly the opposite of what you wrote.

I do not think that this is extreme fear. It seems to me that whales have advisers that explain all the risks. Bitcoin will definitely recover because now the coin is in the bear market. Apparently the whale needed money

What he do to that bitcoin only the owner will know. As the person tell that account has being active like a cold walllet.. He might be saving it instead of selling it.

It seems like a necessary measure. I do not think that a whale would specifically withdraw such a number of Bitcoins during a steep coin fall down. It’s a pity that we will never know what happened

yes, of course in this year many exchanges are closed because of bankruptcy, I admit those who say bankrupt is more honest than exchanges who try to deceive everyone by saying their site was hacked even though they themselves are working to manipulate it, share their stupidity to the public, I like it classic drama but that ignorance keeps repeating until now there is no drama to mark let alone by linking FUD from china, don't ever save big money on the exchange

Investors are smart enough, they probably know what will happen next and I believe they are right to withdraw their funds rather than of losing.
May it possibly for another reason or they just transfer their funds to the other exchanges that they'll see much secured than of before which it is eventually a good decision also. And I don't see it never makes worse, they just want to keep safe.

The only thing we just have to do right  now is to be very wise at this period and not allow all these dumping and playing of the whales to affect us or push us into panic selling because this is exactly what they want, as they have seen enough profit on the $8700, so they will want to look for the next opportunity to enter the market again and the first thing they will do is to use all these their tactics into crashing the market so that they can start accumulating again, and I will not be so much surprise right now, many of them are beginning to accumulate again at this cheap price because I really don’t see the marektcap cap of bitcoin dropping below its current bleeding lines, so any moment from now, we could actually see some increase that is even higher than the initial.

I think its his decision to what to do with his coins but its not a good sign if he tries to sell all of them at once. Also whales doesnt sell their coins like this. They are manipulative, especially BTC whales. They dont work like that.
The bloody market is very volatile today and we can clearly see the pumps and dumps. Hopefully, it stops and we will see some neutrality in the market.

The movement could be for a company, and besides not everyone is position to selling cheap their bitcoin because of the future value predictions. More-so this market has a big manipulation which is part of an emerging market.