The trading behavior of "whales" (large - holders) in the crypto market can cause significant short - term price fluctuations. When a whale makes a large - scale purchase, it can quickly drive up prices due to the sudden increase in demand. Conversely, a large - scale sale can cause prices to plummet. Ordinary investors can try to track the behavior of whales through on - chain data analysis, but they should also be cautious because whale behavior can be unpredictable. Diversifying investments and setting stop - loss and take - profit levels can help ordinary investors reduce the impact of whale - induced volatility.