Part 1: Who are whales, moose, and bears? A zoo in cryptocurrency

Cryptocurrency has long developed its own unique language, full of unusual terms, most of which are surprisingly associated with the animal world. This peculiar “zoo” helps traders quickly and accurately describe situations on the chart, the behavior of players, and the general mood of the market. To understand conversations about trading and fully comprehend analytics, it is, of course, necessary to know the meaning of all these expressions.

Jargon and slang in crypto trading

The cryptocurrency market is developing very rapidly, and with it, the language of traders is also changing. You will rarely encounter dry financial terminology here; metaphors and images that are easier for everyone to remember are used much more often. 

Slang helps beginners quickly navigate what is happening and instantly understand who is acting aggressively, who is cautious, and who is playing for the long term. One of the main advantages of this jargon is its universality. No matter what country you are from, traders around the world will understand what “bull market” or “whale entered the trade” means.

Who is considered a whale in the world of cryptocurrencies

In the world of cryptocurrencies, the term “whale” refers to a market participant who owns such large volumes of digital assets that their actions can significantly influence the price and sentiment of the entire market. These can be individuals, companies, institutional investors, funds, exchanges, or even government agencies. The main feature of whales is that a single action on their part, such as a large-scale purchase or sale, can cause sharp price fluctuations, break through important support or resistance levels, and provoke panic or excitement among other participants.

Most often, whales are considered to be owners of wallets that hold from several hundred to tens of thousands of bitcoins or their equivalent in other cryptocurrencies. For example, addresses with a balance of more than a thousand BTC already fall into the category of major players, and owners of more than ten thousand coins are real whales capable of “rocking” the market, so to speak. However, this concept is not limited to Bitcoin. 

After all, every major coin ecosystem has its own whales, be it Ethereum, BNB, Solana, or even NFT projects, where a few large holders determine liquidity and price movements.

Some whales are early investors who believed in Bitcoin or other cryptocurrencies at the dawn of their emergence and bought assets when they were literally worth pennies. Thanks to the manifold increase in value, their portfolios are now valued at hundreds of millions or even billions of dollars. Other whales are institutional players, such as investment funds, corporations, or companies like MicroStrategy and Tesla, which purchase billions of dollars worth of Bitcoin and thus have a tremendous impact on the market. The category of whales also includes crypto exchanges that hold huge reserves of coins to ensure trading liquidity, as well as miners and large mining pools that mine assets on an industrial scale and manage significant amounts of money.

Traders monitor the actions of whales very closely, as they often serve as indicators of future market movements. For this purpose, there are special analytical services that monitor transactions of large wallets and provide real-time statistics. For example, if a whale transfers a large amount to an exchange, it may mean that they are preparing to sell, which often heralds a fall in the exchange rate. Conversely, if funds are transferred from exchanges to cold wallets, this is often perceived as a signal for long-term asset storage and a hint of expected growth.

What is a bear market

A bear market is a period of prolonged decline in cryptocurrency prices, when most assets are falling and traders are losing optimism. The term “bear” is associated with the image of a bear attacking by lowering its paw — just as the chart moves during such periods. A bear market can last for months or even years, as was the case, for example, in 2018 after the peak of the Bitcoin price.

At such times, traders become more cautious, preferring to hold their capital in stablecoins or even switch to fiat. However, experienced investors use bear cycles to accumulate assets at low prices, understanding that a growth phase will inevitably follow the downturn. 

Bull market in crypto

The opposite of a bear period is a bull market, when prices are actively rising and the overall mood of investors is optimistic. The name is associated with the image of a bull attacking with its horns raised, symbolizing the growth of the chart. During bullish trends, new investors enter the market en masse, trading volumes on exchanges grow, and many altcoins show fairly strong growth after a long period of stagnation.

A bull market is usually accompanied by excitement, euphoria, and numerous predictions of “new historical highs.” However, it is important to remember that even in such a market phase, sharp corrections and pump-and-dump schemes are possible, so sensible risk management remains one of the most important factors for success.

Who are the moose on the exchange?

Moose are recorded losses in exchange transactions. The expression comes from traditional trading jargon (the word “loss” sounds similar to ‘los’ in Russian) and is directly related to the concept of “stop-loss” — an order to automatically fix losses. When the price of an asset goes against an open position, the system closes it at the stop, and the trader thus “catches the moose.”

This term is also relevant in crypto trading, as traders' losses still do not go away. Even experienced participants regularly face situations where they need to accept a loss to avoid even greater losses. The main difference between successful traders and beginners is the ability to manage risks correctly and avoid excessive “moose” that can eat up the entire deposit.

Other animals in crypto slang

Cryptocurrency slang does not end there and is rich in other “animal” terms. There are sheep that blindly follow the crowd, turtles that prefer long-term strategies, and even dogs that symbolize meme tokens like Dogecoin and Shiba Inu. Each new market cycle brings fresh words and images that reflect the mood of the participants.

In this article, we have looked at some of the well-known representatives of the “crypto zoo,” but this is only the beginning. In the next part, we will continue our dive into the world of crypto slang and talk about other terms that will help you better navigate trading and understand the logic of market players.