Tech

Bitcoin Whales Accumulate 6,770 BTC, Worth $384 Million, In Less Than Two Weeks


Bitcoin has been in the midst of a correction over the past few weeks and it turned out to be a tremendous opportunity for BTC whales to buy bearish, especially one whale that added 6,770 BTC worth $384.29 million (about 2,878.3 crore) into kittens in less than two weeks. Whales, who happen to be the third largest BTC whale, have bought Bitcoin in blocks for 9 days in a row, their most recent purchase being on Thursday when they added a 105 BTC ($5.96 million worth). la / about 44.63 crore) to the wallet.

This particular whale seems to be quite active, buying and selling assets whenever there is a sharp drop or rise in price, but with Bitcoin’s recent harsh patch, this whale is already on the upswing. accumulate BTC, like CryptoQuant analyst VentureFounder. commented on Twitter. Starting on November 12, this whale made 9 consecutive purchases due to the falling Bitcoin price. For the first time, at 1,123 BTC, which costs just over $64,000 (about Rs 47.94.

According to VentureFounder, this whale currently has their highest wallet balance in 4 months, when Bitcoin price was around $30,000 (about Rs 22.46 lakh).

Cryptocurrency analytics firm Santiment claims Bitcoin Whales, in general, were purchased pickled. The company noted on Twitter that active Bitcoin whale addresses holding between 100 BTC and 10,000 BTC accumulated around 59,000 BTC during last week’s drop. With Bitcoin trading at $58,498 (about Rs 43.8.

Santiment also said Bitcoin supply continues to move away from exchanges despite the recent bearish price action, which reduces the risk of a mass sell-off. In addition, according to Santiment’s weighted sentiment trackingBitcoin’s social sentiment is currently at its biggest drop in seven weeks, according to the analytics firm.

Santiment’s weighted sentiment tracker analyzes positive and negative comments around a electronic money asset. The company says prices tend to go high when sentiment is too high and bottom when the index is too low.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and Founder of Weekend Trajectory, podcast Gadgets 360. Orbit is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcast.

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