Philadelphia Fed study: small Bitcoin traders react within 15 minutes of whale alerts
- —Sample covers over 6,600 BTC and 5,000 ETH transactions from December 2017 through December 31, 2025
- —Whale threshold set at transfers above $50 million, excluding exchanges and smart contracts
- —Small BTC wallets raised buy participation by 14.81–23.72 percentage points within 15 minutes
- —Sell participation rose 12.95–29.52 percentage points after whale sell alerts
Why it matters: The findings confirm informational asymmetry between BTC and ETH: Whale Alert signals briefly lift BTC volatility, but the effect fades within an hour.
Source: Crypto Briefing