As the market warmed up in recent days, traders' activities began to become more frequent, and some whale holders began a new round of increasing or reducing positions to lay out the next market. Even some very early ancient whales have awakened recently.
If you are optimistic about the market performance in October or Q4, then now is the low point, otherwise now is the high point. So what do these whales think? Sell at highs or buy the dips at lows.
How do whales who buy the dips operate?
What coins buy the dips: $ETH, $BTC, $POPCAT, $LDO
Whale 1 : bought 10206.4 ETH
On September 26, according to the monitoring of on-chain analyst Ember, the whales who bought ETH at a high price and sold it at a profit at $2,354 after the interest rate cut on September 19, and then did not operate for a week. Until 2 hours ago, they bought ETH again and started the tenth round of trading: 26.24 million USDT was spent through 2 addresses to buy 10,206.4 ETH, with an average price of $2,571.
Whale addresses: 0xe0b532985a6b8bfe82a9d1f6f83373c75a7b3c71 and 0x761df92194faa59ea31b828d1bd27ed95b257d20
Whale 2 : A total of 2,448 BTC has been purchased in the past two days
On September 25, according to Lookonchain monitoring, a whale purchased 953 BTC one hour ago, worth approximately US$60.57 million; the whale has purchased a total of 2,448 BTC in the past two days, worth approximately US$154.6 million.
The whale’s address: bc1q57rcscs6ztj0xnslwkt4nervxkpen07h9h2jnr2hkwlg3lwuljrsdwt2m2
Whale 3 : bought 1.3 million POPCAT (worth $1.29 million at the time)
On September 25, according to Lookonchain monitoring, a whale had previously lost $611,000 (-45%) on POPCAT, and then spent 8,644 SOL (US$1.29 million) to buy another 1.3 million POPCAT at a price of $1 in the past two days.
Whale address: EN6wXeg7j3qcyrrAggruRKfmu1sk4qAvHbKLsttfMXFC
Whale 4 : Increased holdings of 1,343 Bitcoins
On September 24, according to TheDataNerd, whale bc1q57 withdrew a total of 1,343 BTC (about 84.8 million US dollars) from Binance 4 hours ago. The whale currently holds 1,951 BTC (about 123.6 million US dollars).
Whale address: bc1q57rcscs6ztj0xnslwkt4nervxkpen07h9h2jnr2hkwlg3lwuljrsdwt2m2
Whale 5 : Bought 2.44 million LDOs
On September 25, according to Lookonchain monitoring, in the past 30 hours, a whale sold 150,428 INJ (US$3.29 million) and bought 2.44 million LDO (US$3.05 million) through Cumberland.
Whale address: 0xA3609cf7872faa7804281c7C5eDB8b2D33001089
What do the whales who sold say?
What coins were sold: $ETH, $PENDLE
Whale 1 : Sold 8,510 ETH in the past two days, equivalent to $22.15 million
On September 25, on-chain data analyst Yu Jin monitored that a whale address that had participated in Ethereum ICO sold 8,510 ETH (about 22.15 million USD) in the past two days. It is reported that this address participated in Ethereum ICO in 2015 and obtained 150,000 ETH (ICO price 0.311 USD). Now, 9 years later, this address has only sold 23,510 ETH, and the ETH it holds is still as high as 130,966 (about 342 million USD).
Whale address: 0xb1e52e319b83dd3bedbae9878b63f67b535de2be
Whale 2 : Arthur Hayes sold 1.835 million PENDLE in the past 4 days
BitMEX founder Arthur Hayes sold 1.835 million PENDLE (US$6.55 million) in the past four days, leaving only 253,000 PENDLE.
His comprehensive cost of PENDLE is about US$2.89, and the recent average transfer price of PENDLE is US$3.57, with a profit of US$1.24 million.
Whale 3 : Ethereum Foundation
On September 23, according to monitoring, the Ethereum Foundation address sold 300 ETH, and has sold a total of 1,250 ETH since September, about $3.25 million. The address currently still holds 272,000 ETH, worth $700 million.
September is coming to an end, how will the crypto market perform in October?
On September 26, CryptoQuant CEO Ki Young Ju posted on X that the demand for Bitcoin spot ETFs rebounded and the 30-day net change in total holdings turned positive.
According to data, the U.S. Bitcoin spot ETF had a net inflow of $105.73 million yesterday, marking five consecutive trading days of net inflows. The U.S. Ethereum spot ETF had a net inflow of $43.24 million yesterday.
10x Research: BTC is expected to hit a record high in the fourth quarter of 2024
On September 25, 10x Research stated in its market analysis that the market trend has changed significantly after the Fed’s interest rate cut, and investors’ preference for DeFi and high-beta assets has begun to rise. Several key themes emerged at the Token2049 conference, hinting at the impact of interest rate cuts on the DeFi revival. For example, the tokenization of physical assets has shown a decrease in the market demand for on-chain tokens such as government bonds, because lower interest rates make them no longer attractive.
As Bitcoin breaks above $60,000 and targets $65,000, savvy traders have begun accumulating undervalued Altcoin, including TAO, ENA, SEI, APT, SUI, NEAR, and GRT, betting on a strong rally in the fourth quarter.
In addition, 10x Research said in its market analysis that Bitcoin has experienced a volatile correction since mid-March, including four local lows. A break above the $65,000 level would mark a reversal of this downward trend, suggesting that Bitcoin could target levels above $70,000 again. Bitcoin could reach a new all-time high in the fourth quarter of this year. The shift in the investment landscape has triggered a rush for high-risk, high-return assets.
10x Research released a market analysis indicating that BTC is expected to hit a record high in the fourth quarter of 2024. It recently discussed potential catalysts for BTC's year-end rebound, noting that the current market structure has improved, stablecoins continue to increase, and futures leverage is also rising. As we approach the critical October-March window, the possibility of a major breakthrough will increase.
Analysis: The current macroeconomic environment, the US short-term spending bill and other factors are favorable to risk assets such as Bitcoin
Tom Dunleavy, partner at MV Global, believes that the current macroeconomic environment is a “perfect setup” for risk assets such as cryptocurrencies. He noted that most signals from the U.S. economy are neutral to expansionary, not recessionary.
Standard Chartered Bank analyst: U.S. Treasury yield curve and derivative rates are bullish signals for Bitcoin
Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said that the current economic conditions in the United States are conducive to driving up the price of Bitcoin. After the Fed cut interest rates last week, the U.S. Treasury yield curve steepened, with the yield spread between 2-year and 10-year Treasury bonds at about 21 basis points, indicating that the market is optimistic about future economic growth. At the same time, the bullish sentiment in the Bitcoin derivatives market has increased, and the opening volume of the $100,000 Bitcoin option expiring on December 27 has increased significantly. In addition, the recent remarks by U.S. Vice President Kamala Harris in support of encryption technology are also seen as market optimism.
PlanB: Bitcoin may rise to $70,000 in October and $100,000 after Trump is elected in November
Analyst PlanB published his speculation on the trend of Bitcoin in the next few years on X:
- October is a classic pump month, with Bitcoin prices rising to $70,000;
- In November, Trump won the election, ending the Democratic Party’s Biden/Harris/Warren/Gensler’s suppression of cryptocurrencies, and Bitcoin rose to $100,000;
- In December, ETF funds flowed in massively, and the price of Bitcoin rose to $150,000;
Overall, analysts are generally optimistic about the trend in October and expect Bitcoin to perform well in the next quarter. What do you think?
