News

Anonymous Bitcoin Whale Buys Over $117M in BTC in Just 7 Days

0
Whale eating Bitcoin. Bitcoin Whales are considered market players with significant funds that are able to move the cryptocurrency market.

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.

Source: BitInfoCharts

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.

 

fxcoach

Polygon (MATIC) Price Forecast & Prediction 2022-2025

Previous article

Eurozone Trade Deficit Narrows to €7.6B in February

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in News