banner

Bitcoin Whales Accumulate 2,814 BTC After Recent Market Drop

Bitcoin whales are once again making significant moves in the market. According to Lookonchain, an on-chain analytics provider, these large-scale investors have begun accumulating significant amounts of Bitcoin ($BTC) following the recent downturn.

Lookonchain shared these insights via their official X account, pointing to a renewed interest among these high-net-worth investors.

Whales Purchase 2,814 Bitcoin After Market Slump

Lookonchain reports that three Bitcoin whales have accumulated nearly 2,814 BTC since the start of the month. This purchase is worth approximately $157.3 million, with an average price of $55,887 per Bitcoin. These transactions took place on Binance, one of the largest cryptocurrency exchanges in the world.

Renewed Confidence in Bitcoin’s Long-Term Value

This significant buyout indicates that whales are regaining confidence in Bitcoin’s long-term value. Despite the market volatility and recent price drops, these high-net-worth investors view current price levels as an opportunity for long-term profit. Historically, large-scale Bitcoin accumulation by whales has often triggered notable price movements in the market. According to Lookonchain, this recent purchase highlights the expectation of an upcoming market trend, potentially signaling a bullish phase for Bitcoin if broader market conditions stabilize.

banner

Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

banner

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Social Media Auto Publish Powered By : XYZScripts.com
Skip to content