Global #crypto whales

Following a period of multi-month lows, the crypto market staged a solid rebound over the weekend, pushing the total market capitalization up by nearly 4% in 24 hours.

Despite recent sharp market drops and broader investor caution, crypto whales (large investors) are reportedly moving to position themselves for a rebound, buying key altcoins ahead of an anticipated Federal Reserve interest rate cut in October.

As we enter the final quarter of 2024, the crypto landscape is poised for significant developments. This year, Q4 is particularly noteworthy as we inch closer to a potential breakout that could signal a major shift in market dynamics.

Since Wednesday, crypto whales have made headlines by purchasing approximately 1 billion Dogecoin (DOGE), signaling a potential lifeline for the meme coin amid a historically bullish October.

Cardano (ADA) was poised for a potential rally toward the $0.40 mark just two days ago. However, recent developments suggest that this bullish momentum may be waning as crypto whales appear to be stepping back from their activity.

In recent market fluctuations, crypto whales have strategically leveraged downturns to bolster their holdings, particularly in memecoins like PEPE. After a significant market slump that saw Bitcoin (BTC) and Ethereum (ETH) drop by over 20% and 24%, respectively, PEPE also experienced a 28% decline.