The third-biggest BTC whale in the world starts accumulating huge purchases of Bitcoin over the last week as the leading crypto by market cap average around the $40K mark.
BTCUSD down 0.02%, ETH USD down 0.07%
The whale is ranked 3rd but is the largest non-exchange entity and has accumulated 2,822 BTC in the last seven days.
The extra BTC to the whale’s wallet is now valued at $117,144,042 and places the value of their wallet at $5,202,214,689.
Benjamin Cowen, a crypto analyst, stated that the whale, unlike other whales, stays active rather than just buying and holding.
Cowen further noted that the whale appears to have been trading a range with Bitcoin’s price action, buying the dips and selling short-term highs.
Unlike the whale’s relatively active trading strategy, Cowen indicated that the majority of the richest Bitcoin wallets usually buy only, usually after major corrections. The resurgence of the most long-term strategy whales could eventually point to a major buy-signal for Bitcoin.