The Data is Clear! The Whales are Back in the Game! Is a Crypto Crash Coming?

Wallets with investments above a certain amount are classified as whales in the cryptocurrency markets. This group has a significant impact on price movements. Moreover, this group represents more experienced investors and companies. Their collective movements are crucial in predicting future price points. So, what are crypto whales doing? Crypto Whales On-chain data often provides more reliable results than technical analysis. CryptoQuant analyst SignalQuant recently presented a comprehensive evaluation of the current state of the markets based on on-chain data. SignalQuant referred to the UTXO Value Bands metric, which shows that whales gradually return to life in 2023 after a rapid retreat in the second half of 2022. In one of CryptoQuant’s Quicktake blog posts on July 16, they wrote the following: “While the whale group increased along with the price in 2019, it is also gradually increasing along with the price in 2023. If the indicators continue to rise, […] The post The Data is Clear! The Whales are Back in the Game! Is a Crypto Crash Coming? appeared first on COINTURK NEWS.