Whale buying and selling has effectively told traders how to position their bids and asks, data reveals.
Bitcoin (BTC) left both long and short traders behind in May and June, but data suggests trading it may be “easier” than many imagine.According to on-chain analytics resource Whalemap, Bitcoin whales have all but dictated market performance in recent weeks.Whales help pin Bitcoin at $30,000In fresh analysis published on June 7, Whalemap researchers showed that BTC/USD local tops and bottoms have coincided with areas of heightened whale activity.When Bitcoin’s largest wallet entities choose to buy or sell, price reacts accordingly.