The futures market is driving BTC's decline. Interestingly, whales on the spot side of a major exchange are accumulating at low levels, preparing to buy the dip, while whales on the futures side are adding fuel to the fire, accelerating the decline. The motives of the big players on both sides can be roughly understood from on-chain data.

BTC0,72%
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fren_with_benefitsvip
· 20h ago
The game of spot and futures trading, big players really have their own schemes.
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SelfRuggervip
· 20h ago
Whales on both sides are putting on a show; I've had enough of this performance.
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Gm_Gn_Merchantvip
· 20h ago
It's the futures' fault again; spot whales are sitting low, waiting for a rebound.
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SilentAlphavip
· 20h ago
Spot whales are bottom fishing, futures whales are dumping. Are these two the same group?
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AirdropAutomatonvip
· 20h ago
Whales are really playing hard this time, buying the dip while dumping, this game is making me dizzy.
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