Battle Cryptoby The Compendium Co.

What is Whale?

An order large enough to move the price it is executed at. A relative measure — it depends on the depth of the book, not a fixed dollar figure.

A whale is an order large enough to be an event rather than a data point. On this board that threshold is $100,000 of notional — the point where a trade stops being infantry and calls in an air strike. The number matters less than the principle: size has to be judged against a market's own depth, because $100,000 is a rounding error in Bitcoin and a earthquake in a thin one.

Watch it happen

Every idea on this page is something you can see on a live tape rather than take on faith. The board draws real executed trades as an army: buyers advance from the left, sellers from the right, and the glowing line between them is the price. Here is how to read it.

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