Despite the sad state of the investors at the moment, Bitcoin appears to be headed for a recovery. Since dropping from the $22,000 mark in September, the price has stayed around the $19K mark, unable to recover. Many people think that Bitcoin’s continued range-bound movement is an indication of, at minimum, a brief uptrend.
The adverse fluctuation of Bitcoin’s price can be attributed to a number of elements that also coincide with the present global financial crisis.
In order to pinpoint the market bottoms, investors can follow the movements of Bitcoin whales as they trade on derivatives exchanges.
According to an analyst at קריפּטאָקוואַנט, whales in the Bitcoin (BTC) market are using a predictable pattern of trading to safeguard their assets during capitulation events, which are a great measure of the market bottom.
The verified pseudonymous analyst ‘ETH whale hunter” wrote in a ‘Quicktake’ on the crypto market analytics platform that whales and funds frequently send BTC to derivatives exchanges to set or cover long positions during capitalization events.
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Source: https://coinpedia.org/bitcoin/how-the-bitcoin-whales-are-managing-losses-during-turbulent-market-conditions/