Bitcoin from June 7 to 13, 2021. Whale vs Shrimp analysis

The week ends with a rebound in the price of bitcoin, we have been with the price within a channel since May 20 and it is close to coming out of that lateralization with a strong rise that started this past Sunday. The imminent purchase of more than $ 4 million by MicroStrategy most likely influenced yesterday’s rise.

During this week the value of BTC has undergone certain variations. If we compare the value of the price at the beginning of the week with the closing of this Sunday there is a considerable variation of 8.38% but this rise is due to the rebound in the price on Sunday . At the beginning of the week it started at $ 35,850 and ended up at $ 38,855. The lowest value was given on June 8 with $ 31,413 and the top was $ 38,855 just on Sunday, June 13 before closing.

Notable News It

has been a very prolific week with both favorable and unfavorable news. These have had a strong impact and the positives have been offset by the negatives, managing to keep the price more or less stable until Sunday. 

We leave here the most important ones.

The favorable

  • Recognition of Bitcoin as legal tender of El Salvador
  • The Taproot signaling The 

1815 Taproot signaling blocks, which are required for the lock-in, have been reached. More Information.

  • Future $ 500 Million MicroStrategy PurchaseBad


  • Former US President Donald Trump Says Bitcoin Is A Scam Against The Dollar and that the only currency that should exist for world exchange has to be the US dollar. More information.
  • On Monday, June 7, the FBI recovered $ 2.3 million in bitcoin that the Colonial Pipeline company had paid to the Darkside group to recover the fuel distribution service. The problem is that both the press and the federal authorities have sold the news as if there had been a Bitcoin security problem when there is not, what they have done is to get hold of the private keys of the crackers to requisition the BTC. More information.
  • Finally, the Chinese police arrest 1,100 people for laundering money with cryptocurrencies. More information.

Comparison BTC purchases and sales of Whale vs Shrimp

If we compare the behavior of whales, addresses between 1000 and 10000 BTC with that of shrimp or retailers that have less than 1 BTC in the last month and a half we observe: 

  • That while the whales sold slightly During the price highs between April 11 and May 8 (yellow square on the chart), retailers were buying BTC like there was no tomorrow. 
  • During the entire period of decline (red square in the graph) the whales increased their sales of bitcoin and took profits, the shrimps continued to buy during this decline (green square)
  • In the period that begins on May 22 and that there has been a stabilization In the price, the whales have returned to the purchase of BTC taking advantage of the fact that the value of bitcoin is at a minimum and instead retailers have sold their BTC en masse at a much lower price than when they bought at maximums losing money.
  • Finally, in the final part of the graph that corresponds to the last few days, the whales have sold a good amount of BTC, it seems a strategy to try to lower the price or simply because they want to collect some profit from their purchases at a lower price and for their part the shrimp are selling although to a lesser extent and at a loss. 

With this data it is concluded that shrimp / retailers are the most sensitive to FOMO, FUD and news. That although it is true that they bought when the price was at a high, they held on without selling the first part of the period of minimums and in the end they ended up selling and losing money. On the contrary, the whales / strong hands sold slightly during the high and have bought in the period of the stabilization of the low, making money and preparing for a subsequent price increase.  

Distribution of BTCs

This week we have the whales getting rid of BTC, they have sold 27,485 it seems a strategy to try to lower the price of bitcoin, the interesting thing is that this sale is being absorbed by the Shark (100-1000 BTC) and the Fish (10-100 BTC) that they are experienced users and with knowledge, which could lead to the move to lower the price not coming to fruition.

The Hash Ribbons indicator, which has historically been a very reliable metric to identify the moments of buying and selling of BTC, continues to show that it is a good time to buy bitcoin.

BTC flow in exchanges

This past week about 11,000 BTC have been sent to exchanges which is a bearish sign since bitcoins are normally sent with the intention of selling them. One thing to keep in mind is that 12367 BTC were sent to Binance, which is the retailers’ exchange that corroborates what was seen in the graph of the BTC distribution where it is shown that the Shrimp are selling, the rest of the Exchanges have a negative total balance which indicates that other players are in the process of accumulating bitcoin.

Categories: Bitcoin, BTC, Coins, Distribution, Hodl, Price, Trader, Trading

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