Third-Largest Bitcoin Whale Bought $37 Million in BTC

Third-Largest Bitcoin Whale Bought $37 Million in BTC

One of the largest BTC whales has resumed its accumulation appetite by buying more than $37 million worth of the primary cryptocurrency. This comes after a few weeks of untypical silence.

CryptoQuant’s analyst going by the Twitter handle VentureFounder outlined the most recent purchase earlier today.
As the address associated with this whale shows, they bought 596 bitcoins at an average price of $62,934. This means that they spent just over $37.5 million in total.
Interestingly, this purchase comes after a lack of serious activity in the past few weeks. Previously, the whale made multiple purchases and sales in accordance with BTC’s price movements.

3rd-Largest Bitcoin Whale Address Activity. Source: Twitter

For example, they sold substantial portions when the cryptocurrency surged above $60,000 in They began to reaccumulate when the asset lost half of its USD value in the following months.
Most recently, they sold some bitcoins at $56,000 earlier this month before repurchasing them a day later at a higher price.
It’s worth noting that the current rally, which saw BTC going from $40,000 at the end of September to a new ATH at $67,000 last week, was mainly caused by such whales making large purchases, at least according to on-chain data.

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

Source link


Be the first to comment

Leave a Reply

Your email address will not be published.