In the cryptocurrency market, large players — the so-called whales — have a key influence. Their actions in buying or selling tokens often determine short-term trends. It is especially important to watch for the moment when the whales start locking in profits and exiting their positions. A logical question arises: what comes next — a dump or a pump?
Let's analyze the example of ENA/USDT.
Analysis:
Based on current data:
Large purchases: 27.67 million ENA
Large sales: 36.07 million ENA
Net outflow from large orders: –8.40 million ENA
Total outflow for the day: –10.66 million ENA
This indicates that some large players have already exited their positions, realizing profits after the recent rise.
What does this mean?
It's important to understand: if the whales have already sold a significant part of the volume, the likelihood of a sharp dump decreases, but this does not exclude a smooth downward correction. The reason is simple — a large volume of tokens is needed to crash the market. If this volume has already been sold, the whales simply do not have the resources to trigger a collapse.
Possible scenarios:
1) Smooth pullback (bearish consolidation):
The whales have locked in profits, and the market is moving sideways with a gradual decline. A correction of 5–10% is possible.
2) Maintaining the level and repeated pump:
The remaining volumes with the whales may be sold off in the next upward impulse. In this case, the market accumulates and prepares for a new jump.
3) Manipulative drop for support:
The market may be pushed down to levels of interest to start accumulating positions again — especially if there is volume among retail traders.
Conclusion:
When the whales have partially exited their positions, a strong dump is unlikely, but the correction may continue. This is not a bullish signal, but a neutral one — leaning towards weakness until signs of new demand appear.
Such a market structure indicates a redistribution phase, where everything depends on the behavior of the remaining volume in the hands of large players.
Ready for placement.
