What Crypto Whales Are Buying to Profit in October

The first half of September saw a surge in trading activity. Many assets took advantage of the improving sentiment, climbing to local highs as buying pressure intensified across the market.

However, the momentum began to shift gradually on September 14. As demand for Bitcoin weakened, bearish pressure spread across the market and dampened overall sentiment. Despite the slowdown, large investors took the opportunity to increase their holdings of certain assets, preparing for a possible profit-taking in October.

Litecoin (LTC)

At the time of writing, Layer-1 (L1) LTC is trading at $65, down 5% over the past 30 days. This has created an accumulation opportunity, as whales appear to be betting on a recovery in the coming weeks.

According to Sanmtiment, whales holding between 10,000 and 100,000 Token have accumulated 300,000 LTC worth around $31.6 million over the past month.

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If this accumulation continues in the new months, it could push the coin's price above the resistance at $109.91 and towards $119.47.

On the other hand, if the bears strengthen their control, they could force the price to drop to $98.43.

SPX6900 (SPX)

The decentralized meme coin SPX is another altcoin that crypto whales are accumulating for potential gains in the coming month. The altcoin has dropped nearly 15% in value over the past month, opening up strategic accumulation opportunities for some of its largest holders.

According to Santiment, addresses holding between 10 million and 100 million SPX Token have purchased 23.04 million coins in the past 10 days alone, indicating growing confidence among this group of investors.

If this buying trend continues, it could trigger a break above the resistance at $1.0286 and push the SPX price towards $1.2681.

However, as the sell-off continues, its price could drop to $0.8189, the low reached in May.

Ondo (ONDO)

According to data from Nansen, spot whales holding over $1 million worth of ONDO Token have increased their holdings by 10% over the past month.

During the same period, the 100 largest crypto whales also increased their ONDO positions by 1%, adding to optimism for a favorable October for the altcoin.

These increases in activity by large investors show growing confidence among institutions and suggest that whales are preparing for an early price increase.

If the accumulation trend continues, ONDO price could climb above $0.8955.

However, if demand drops, the Token risks sliding towards $0.8308.