On Tuesday, the cryptocurrency market experienced a sharp decline as a result of economic conditions in the US. In the case of the Bitcoin price, whales sent a large amount of tokens to centralized exchanges (CEX). The latter caused considerable selling pressure on the largest of the digital currencies.

According to data from WhaleBot Alerts, inbound transactions to trading platforms far exceeded outbound transfers. In the world of whales, sending coins to CEXs is considered as an intention to sell. On the other hand, sending from CEXs to unknown wallets is classified as accumulation.