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In the past few days when Bitcoin has been skyrocketing, which coins have the whales bought on the chain?

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With the help of data from 0xScope, BlockBeats compiled the trading trends of whale positions from October 11 to October 24.

Thank you for the data support provided by 0xScope

On October 24th, news of progress in the approval process for the BlackRock Bitcoin spot ETF caused Bitcoin to surge to $35,000. In less than half a month since its low point on October 11th, Bitcoin has already risen by over 30%, reigniting hope among long-suppressed investors for a "bull return". So besides Bitcoin, what other operations do whales have on altcoins?

With the help of 0xScope's data, BlockBeats has compiled the buying and selling trends of whale positions on the Ethereum chain for single swap transactions exceeding $300,000 between October 11th and October 24th (during which Bitcoin hit a recent low of $26,000 and rose to $35,000). Let's take a look at which tokens the whales have been buying and selling recently.

Meanwhile, we will use the VPVR indicator in Trading View Pro to make a simple judgment on when the coin price will be blocked and where it will receive certain support at which price levels. (BTC and ETH only)

What is VPVR

VPVR, short for Volume Profile Visible Range, is a practical indicator used to observe the distribution of chips. It is a fixed range transaction volume distribution chart that can be viewed through Trading View Pro.

In short, we can use VPVR to observe which price range has the highest trading volume, identify areas of high trading activity, and determine when prices will encounter resistance or find support.

Using the chart below as an example, we have selected the price change interval from November 9, 2022 to present to observe the distribution of trading volume, which is the highest point of the price breaking through $35,000 since the bottom caused by the FTX crash to today.

(November 9, 2022 - present)

The left side shows the histogram of trading volume distribution for this price range. The higher the volume bar, the larger the trading volume of Bitcoin at this price level. The red line represents the price level with the highest trading volume during the period (referred to as POC); the highlighted histogram area is centered around POC and accounts for 70% of the total trading volume during the period. We can obtain the following information:

· During the FTX thunderstorm period, a significant amount of funds took on the panic selling.

· There is no obvious selling behavior in high-priced positions (but usually they will sell in stages).

Next, let's move on to the whale trading data section.

BTC Encapsulation Versions (tBTC, WBTC)

The whales executed a total of 98 BTC transactions between October 11th and October 24th, with 64 buys and 34 sells. The total amount bought was 1,343.34 BTC, worth approximately $40,313,014.57; the total amount sold was 1,493.45 BTC, worth approximately $47,517,016.96.

During this period, a total of 45 whales executed net buy operations, buying a net of 1,218.62 BTC worth approximately $36,452,282.83. Additionally, a total of 19 whales executed net sell operations, selling a net of 1,368.73 BTC worth approximately $43,572,074.10.

VPVR

As shown in the illustration given in the previous explanation of the concept, we can see that during the FTX thundering period, a large amount of funds took on the panic selling. However, if we extend the timeline, will there be a larger volume of chips concentrated in the upper area to suppress the coin price?

Fortunately, even if the timeline is extended to the last bull market (some believe that April 21 was the top of the last bull market), the trading volume in the range of $16,000 to $25,000 relative bottom area is still considerable starting from the "519" tragedy. From the Three Arrows Capital explosion on June 13, 2022, to the SVB explosion on March 16, 2023, we originally had about 270 days to buy the dip.

(May 19, 2021 to present)

ETH 的 LSD 代币（stETH、wstETH、ankrETH、cbETH、rETH、ETHx、frxETH、sfrxETH、swETH）

translates to

ETH's LSD tokens (stETH, wstETH, ankrETH, cbETH, rETH, ETHx, frxETH, sfrxETH, swETH)

The whales executed a total of 150 ETH transactions between October 11th and October 24th, with 92 buys and 58 sells. The total amount bought was 61,279.56 ETH, worth approximately $100,890,900.95; the total amount sold was 31,219.90 ETH, worth approximately $54,990,616.60.

During this period, a total of 40 whales executed net buying operations, with a net purchase of 52,790.48 ETH, worth approximately $85,953,079.89. A total of 22 whales executed net selling operations, with a net sale of 22,730.82 ETH, worth approximately $40,052,795.54.

VPVR

From VPVR's perspective, the situation of ETH is not as optimistic as BTC. The bottom-fishing funds during the "FTX bottom" appear somewhat weak compared to the relatively high selling funds above $1530, which may lead to some possibility of "rebound selling".

（ November 9, 2022 - present）

Looking at the longer timeline, if ETH can break away from the chip-intensive range and rise with the help of BTC, the resistance to price increases will also decrease slightly (although not as good as without BTC).

（May 19, 2021 to present）

CRV

The whales executed a total of 1 CRV transaction between October 11th and October 24th.

During this period, one whale executed net buying operations, with a net purchase of 807,156.93 CRV tokens, worth approximately $360,369.74.

FXS

The whales executed a total of 4 FXS transactions between October 11th and October 24th, including 2 buys and 2 sells. They bought a total of 168,450.70 FXS, worth approximately $901,334.63, and sold a total of 400,000.00 FXS, worth approximately $2,268,000.00.

During this period, there were a total of 2 whales who executed net buy operations, purchasing a net total of 168,450.70 FXS tokens, worth approximately $901,334.63 USD. Additionally, there was 1 whale who executed a net sell operation, selling a net total of 400,000.00 FXS tokens, worth approximately $2,268,000.00 USD.