In the cryptocurrency world, it is important to identify market trends and understand the behavior of major investors. Because it is possible that it provides valuable information for both traders and enthusiasts. Recently, Ki Young Ju, CEO of CryptoQuant, shared an interesting observation regarding the trading positions of key players known as “whales”.
Findings of CryptoQuant’s CEO
According to Ki Young Ju, it would be helpful to focus on low-volume derivatives exchanges to detect long/short positions of ancient whales. These exchanges often provide a clearer picture of individual trading activity. Thus, it allows for a more precise analysis of market behavior.
To support his explanation, Ki Young Ju highlights a few examples of notable whale positions on different exchanges. The first example comes from Huobi Global, where a whale went long at $16,819. The second case involves a BitMEX whale entering a long position at $16,944. Another exchange, Bybit, saw a whale go long at $18,809. The fourth example reveals a Deribit whale also taking a long position at $16,944. Finally, an OKX whale made a move at $16,746.
Pro-tip: To spot old whales' giga long/short positions, focus on low-volume derivative exchanges.
1/ Huobi whale: longed at $16,819https://t.co/AHdPuKamJ9 pic.twitter.com/9JNjlebqx9
— Ki Young Ju (@ki_young_ju) June 23, 2023
These examples provide valuable insight into the trading behavior of major investors. However, it should be noted that such patterns are more difficult to detect on exchanges with high trading volumes such as Binance. Because the sheer volume of trading volume on such platforms makes it difficult to isolate and analyze individual trading behavior effectively.
Why it’s important to follow the actions of major crypto investors
To delve deeper into the analysis, CryptoQuant provides charts that show the Buyer Buying Ratio (long/short ratio) for each exchange mentioned. These ratios represent the buying volume divided by the sales volume of the buyers in perpetual swap transactions. Users set up alerts for outliers in these charts. Thus, they have the opportunity to be informed about important movements in the market.
Ki Young Ju’s views shed light on a particular strategy for determining the long/short positions of ancient whales. It is important for traders and investors to better understand market trends and potentially make informed decisions. Therefore, it is possible for them to use this information to their advantage. cryptocoin.com As you follow, the crypto market continues to evolve. This, in turn, makes the ability to track and interpret the actions of major investors increasingly valuable. Insights, as shared by Ki Young Ju, serve as valuable tools for crypto investors.
