Kachi_Micheal
Kachi_Micheal 2 minutes reading from Bitcoin

Whales do it on Exchanges: 32,000 BTC Sold Yesterday

🐳 32,000 BTC belonging to the whale wallet was moved yesterday. They have been inactive since December 2018. Transactions like this usually mean over-the-counter transactions, which means that someone is willing to purchase those 32,000 BTC right now 👀

Big whales and institutions don't buy BTC on exchanges like binance and Bybit

They usually use OTC Trading (Over the counter)

This is a type of Trading where the seller comes and the buyer too

The buyer pays the seller cash, and collects the BTC and a determined rate

When ever you hear someone bought BTC worth 2B, it's never done on Exchanges

If they do it on exchanges, they will end up buying it very high

Before Yu finish buying BTC worth 100m, price will go from 19k to 25k Bec the whale will be pushing the price up as he is buying and thereby cheating himself So instead, they look for someone that wants sell

And buy directly from that person. Why is it that people nevr knw when an institutions like Microstrategy or Tesla buys BTC? Unless they anounce it

Because it's not tracked,they buy from an individual that wants to sell and pay de person like 3B 💱 That's de way they sell too

These transactions doesn't affect the market cause it's just like normal BTC Transfer from one wallet to the other

While the seller gets his money, the buyer gets his BTC low key 👌

This post is based on this twitter thread.

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