Within just 24 hours, Bitcoin (BTC) saw a shocking crash, wiping out $628M in liquidations ๐จ. More than 130,000 traders were forced to exit positions, including one giant $12.49M long liquidated at $109,892 โก.
๐ On-chain trackers revealed the cause: an ancient whale wallet, inactive for over 7 years, suddenly woke up and moved BTC, swapping part of it into Ethereum (ETH). This surprise move triggered a domino effect across market liquidity ๐.
๐ Whales are powerful market movers โ holding massive early BTC reserves. Their decisions can instantly shift supply-demand balance, sparking fear or FOMO among investors. This latest action signals possible faith in ETHโs future while exposing how fragile high-leverage trading really is ๐งจ.
โ ๏ธ Takeaway for traders: leverage = ๐ช double-edged sword. With leverage ratios still elevated, sudden whale moves can unleash extreme volatility. Watching on-chain data like whale flows & exchange activity has become ๐ for survival.
๐ก Smart investors mix on-chain analysis with fundamentals ๐ง , avoiding blind hype and chasing sustainable profits instead ๐.
