Analysis: Exchanges frequently receive large transfers of encrypted whales, or cause BTC to fall

From October 14 to October 18, 2019, according to Whale Alert data, the encryption market had 43 large transactions this week, all from unknown wallets to currency security and OKEx. These encrypted whales moved a total of 76,462 BTCs, of which the highest number of bitcoins received was 32,892, valued at approximately $260 million, accounting for 38.38% of the total amount of large transfers. OKEx ranked second with 22,575 bitcoins, accounting for 26.4%. On Thursday (October 17th), the movement of encrypted whales reached its peak. According to Whale Alert, the first big transfer occurred between unknown wallets, amounting to 9,240 bitcoins (worth about $74 million). ).
Bitcoin prices subsequently fell to a lower level of their key support at $8078, causing their prices to fall further to lower support areas, which has led many investors to assert that bitcoin will not fall below the $6,000 area and is currently Bitcoin is trying to return to the $8,000 area, but apparently the decline has not yet fully ended, and the encrypted whales have begun to transfer large amounts of money again, of which an unknown wallet has transferred 5,000 BTCs to Poloniex. In addition, ETH and XRP have encountered a similar situation.