Bitcoin Whales are seen as market participants with large financial resources who have the power to influence the bitcoin market. Institutions like hedge funds and bitcoin investment funds are the big actors being discussed. Some of these funds have made known where they are.
The big-money Bitcoin players that publicly participate in the Bitcoin market are referred to as "whales" in several cases. The ocean is a good metaphor for the market since it can be expanded to include sharks, large and little fish, feeding frenzy rallies, waves, and other elements. However, given the participants listed below, it's possible that the term "whale" has been used to refer to the wrong kind of investor.
Several slang terms have been developed as a result of the emergence of cryptocurrencies and the trading of this new asset class. These terms are particularly popular on social media platforms like Reddit. In addition to the widely used slang term hodl, whales is also used in bitcoin trading. Big players, or "whales," are sometimes cited as the cause of market volatility when markets are extremely volatile.
The use of this expression in such situations can be explained by comparison to the size of the whale, which is the largest mammal in the ocean. A market participant who trades with a lot more money than the ordinary investor is said to be a whale since they can influence the price of cryptocurrencies.
The prominent Bitcoin whales are:
Bitcoin Reserve Binary Financial Pantera Capital
Coin Capital Associates
Global Advisors Bitcoin Investment Fund and Falcon Global Capital Fortress Bitcoin Investment Trust
The majority of the time, these funds oversee hundreds of thousands of bitcoins, which they surreptitiously and strategically transfer through exchanges via specific agreements, out of the public eye and hidden from regular retail traders.
Institutions can sway the market at will thanks to their significant financial mass. The analogy of a Bitcoin Whale is particularly useful in this situation because any other marine life must either move quickly or be physically transported. Furthermore, the whale's intention becomes the way because no current is powerful enough to divert it from its direction.
Whales are frequently condemned for rigging the price of a certain coin so that they can sell it later for more money or acquire it for less money. Numerous coins, including NEO and Vechain, have already been impacted by this trading activity of major market participants. Whales in the bitcoin market are a crucial component of the market. Their widespread coin movements are what can have a significant impact on the price of BTC. Even Bitcoin Whales have started Telegram channels.