en.bitcoinsistemi.com
Bitcoin (BTC), Ethereum (ETH) and altcoins have experienced sharp declines amid tensions between the US, Iran and Israel.
While the BTC price fell to $98,000, ETH and altcoins also experienced significant declines.
However, after the news that Iran and Israel reached an agreement, BTC and altcoins turned green, while Santiment issued a volatility warning for some altcoins.
Cryptocurrency analysis platform Santiment announced the four altcoins that whales transferred the most to exchanges.
Accordingly, Santiment said that significant transfers to exchanges were seen in five altcoins.
These include PAX Gold (PAXG), Space ID (ID), Gala (GALA), Aethir (ATH), and Pendle (PENDLE).
“PAX Gold, Space ID, Gala, Aethir, and Pendle are among the altcoins that have seen whale transfers of over $1 million to centralized exchanges. Be prepared for volatility, especially when high percentages of a coin’s supply are transferred to a CEX.”
Such large altcoin inflows to exchanges are generally interpreted as preparations for sales.
It usually signals potential selling pressure and increased volatility, as whales may be preparing to unload their positions. Therefore, whale transfers can increase short-term volatility for these altcoins and affect price action. At this point, investors should also monitor PAX Gold, Space ID, GALA, ATH, and PENDLE, as increased exchange transfers could signal increased selling pressure.
*This is not investment advice.