r/CryptoCurrency • u/DryMyBottom 🟩 0 / 0 🦠 • 6h ago

🔴 UNRELIABLE SOURCE Bitcoin OG whales to blame for BTC’s painful rise: Willy Woo

https://cointelegraph.com/news/bitcoin-flash-crash-blamed-crypto-whales-big-eth-trades
9 Upvotes

74% Upvoted

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3

u/marcosg_aus 🟦 94 / 94 🦐 2h ago

The words ‘no shit sherlock’ come to mind

2

u/DryMyBottom 🟩 0 / 0 🦠 2h ago

yeah, that should have been the title of the article 😅

3

u/J5966358 🟨 0 / 0 🦠 5h ago

Wow!

"Bitcoin’s price action may be influenced by whales, according to Willy Woo"

Seriously? 

3

u/Agreeable-Swim-9162 🟩 0 / 0 🦠 5h ago

Willy Who

3

u/Key-Barnacle-4185 🟦 0 / 0 🦠 4h ago

Who would have guessed, people with the most have the ability to dictate price more than poor ducks.

1

u/utilizatoru 🟨 0 / 0 🦠 6h ago

flash crashes are noise- whales buying ETH is the signal

0

u/coinfeeds-bot 🟩 136K / 136K 🐋 6h ago

tldr; Bitcoin’s slow price action this cycle may be influenced by long-time whales, according to Willy Woo, who noted that it takes over $110,000 of fresh capital to absorb every Bitcoin they sell. A major Bitcoin whale recently rotated $2 billion worth of BTC into Ether (ETH), triggering a market sell-off and a $45 billion drop in Bitcoin’s market cap. The whale strategically staked ETH and profited $185 million from ETH/BTC trades. This trend reflects increasing whale interest in ETH over BTC, impacting market dynamics.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.