So I'm new to the crypto investments. So can someone explain to me where are the whales that sold high? What are they waiting for? They would get more coins so a bigger ROI once everyone starts buying again. Or is there something else I'm missing.
Studies show that whales have now accumulated one of the largest collective long positions ever approaching record highs. With returns close to all-time highs, it's clear that whales expect the price of Bitcoin to rise.
The last time there were so many longs, the price of Bitcoin rose from $ 12,000 to $ 64,000 in less than a year. This can be an indicator of an upcoming rebound and new peaks!
I believe the recent sell of was a large amount of long positions getting liquidated
which triggered further long positions to get liquidated, lije a house of cards. Whales helped
the price fall by selling and there is a theory that the whales are buying back in small
traunches in order to buy more and more at a low price.