Re: Bitcoin Whale Withdraws $89M BTC, Despite Bloody Market

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!

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.

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.