If you are preparing to buy at the bottom, do you know that all the big whales have run away?

Thanks to 0xScope for providing data support

On June 24, Bitcoin fell below its short-term high of $640 million. Today, Bitcoin fell below $54,000 again, and the 24-hour decline widened to 8.8%. The "6.18 Big Sale" continues to this day, and it has suffered a sharp drop on July 5, ushering in the Black Friday for the people in the cryptocurrency circle.

Previously, according to the analysis of crypto KOL Ignas, the price of Bitcoin is being artificially depressed, and retail investors and investment managers are being induced to sell for risk aversion through deceptive sell orders from whales. Whether this situation exists or not, on-chain data is indeed a weather vane for predicting the market.

With the help of 0xScope data, BlockBeats sorted out the buying and selling trends of whales with a single swap transaction amount of more than $300,000 on the Ethereum chain from June 24 to July 4, to see which tokens the whales have bought/sold recently. At the same time, the Fibonacci retracement indicator in Trading View Pro is also used to simply determine when the price of Bitcoin will be blocked and at which price levels it will receive certain support.

What is Fibonacci Retracement

Fibonacci Retracement is a technical analysis tool used to identify potential support and resistance levels in financial markets. The tool is based on a series of numbers discovered by Italian mathematician Fibonacci, namely the Fibonacci sequence. When these numbers are applied to technical analysis, they can help traders predict potential levels of price pullbacks.

The main Fibonacci retracement levels include: 23.6%, 38.2%, 50%, 61.8%, and 78.6%. These levels are calculated by drawing horizontal lines between the highs and lows of a trend. For example, if the price rises from low A to high B and then begins to pull back, the Fibonacci retracement levels will show where the price may find support or resistance at these specific percentage levels.

Based on the Fibonacci retracement tool, the price of Bitcoin may find support around $51,500 during the pullback. This price point corresponds to the 38.2% Fibonacci retracement level (i.e., 38.2% from the recent high to the low). In addition, this price area has also previously been where the price of Bitcoin briefly consolidated before the final sprint, which further increases the possibility of $51,500 as support.

Let’s move on to the data section

ETH series (including ezETH, weETH, wstETH, stETH, rETH, cbETH, mETH, sfrxETH, swETH, frxETH, uniETH, pufETH, rswETH, rsETH, etc.)

Between June 24 and July 4, the whales executed a total of 1,116 ETH transactions, of which 697 were buys and 419 were sells. A total of 210,922.01 ETH were bought, worth about $740,328,736.22; a total of 123,136.27 ETH were sold, worth about $430,677,058.52.

A total of 186 whales performed net buying operations during this period, net buying 87,785.74 ETH (total buying minus total selling), worth about $309,651,677.70; a total of 204 whales performed net selling operations during this period, net selling 87,785.74 ETH (total selling minus total buying), worth about $309,651,677.70.

BTC packaged versions (including tBTC, WBTC, etc.)

Between June 24 and July 4, whales executed a total of 89 BTC transactions, of which 55 were buys and 34 were sells. A total of 1,743.79 BTC were bought, worth approximately $107,920,685.42; a total of 414.55 BTC were sold, worth approximately $25,479,089.16.

A total of 28 whales performed net buying operations during this period, net buying 1,329.24 BTC (total buying minus total selling), worth about $82,441,596.26; a total of 20 whales performed net selling operations during this period, net selling 1,329.24 BTC (total selling minus total buying), worth about $82,441,596.26.

Excluding ETH and BTC related operations, whales only had net buying of MKR and LDO for other altcoins, and most of the others were net selling.

MKR

Between June 24 and July 4, whales executed a total of 17 MKR transactions, of which 12 were buys and 5 were sells. A total of 4,313.68 MKR were bought, worth approximately $10,798,758.34; a total of 1,817.12 MKR were sold, worth approximately $4,408,743.63.

A total of 6 whales performed net buy operations during this period, net buying 2,496.56 MKR, worth approximately $6,390,014.71; a total of 3 whales performed net sell operations during this period, net selling 2,496.56 MKR, worth approximately $6,390,014.71.

LDO

Between June 24 and July 4, whales executed a total of 2 LDO transactions, all of which were buys. A total of 378,496.10 LDO were purchased, worth approximately $727,684.08; there were no sell transactions.

ONDO

Between June 24 and July 4, whales executed a total of 2 ONDO transactions, all of which were sells. A total of 585,538.30 ONDO were sold, worth approximately $684,062.78; there were no buy transactions.

PEIPEI

Between June 24 and July 4, whales executed a total of 4 PEIPEI transactions, all of which were sells. A total of 12,175,219,831,862.45 PEIPEI were sold, worth approximately $1,913,465.89; there were no buy transactions.

PEPE

Between June 24 and July 4, whales executed a total of 19 PEPE transactions, of which 6 were buys and 13 were sells. A total of 282,119,856,081.88 PEPE were bought, worth approximately $3,312,172.18; a total of 600,266,202,374.30 PEPE were sold, worth approximately $6,884,446.80.

A total of 4 whales performed net buying operations during this period, with a net purchase of 318,146,346,292.42 PEPEs, worth approximately US$3,572,274.62; a total of 6 whales performed net selling operations during this period, with a net sale of 318,146,346,292.42 PEPEs, worth approximately US$3,572,274.62.

BEAM

Between June 24 and July 4, whales executed a total of 4 BEAM transactions, 2 of which were buys and 2 were sells. A total of 341,459.62 BEAM were bought, worth approximately $293,409.11; a total of 341,459.62 BEAM were sold, worth approximately $287,857.04.

FLOKI

Between June 24 and July 4, whales executed a total of 1 FLOKI transaction, which was a sell. A total of 2,000,000,000 FLOKI were sold, worth approximately $343,140.00.

AQTIS

Between June 24 and July 4, whales executed a total of 1 AQTIS transaction, which was a sell. A total of 20,000,000 AQTIS were sold, worth approximately $313,158.60.

PEAS

Between June 24 and July 4, whales executed a total of 1 PEAS transaction, which was a sell. A total of 130,020.96 PEAS were sold, worth approximately $418,667.52.

1INCH

Between June 24 and July 4, the whales executed a total of 1 1INCH transaction, which was a sell. A total of 1,612,124.25 1INCH were sold, with a value of approximately US$633,992.04.

WOJAK

Between June 24 and July 4, the whales executed a total of 1 WOJAK transaction, which was a sell. A total of 314,962,538.13 WOJAK were sold, with a value of approximately US$340,968.99.

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