Large Bitcoin Investor Acquires $395 Million in BTC Following Recent Price Decline
A significant Bitcoin whale has recently acquired $395 million worth of BTC following a recent price decline. This purchase marks a substantial transaction by the whale in the last 1.5 years.
During the 2022 bear market, the same whale bought $794 million worth of Bitcoin. Subsequently, the whale sold 37,000 BTC for $1.74 billion at an average price of $46,800 in 2023 and 2024, resulting in a profit of over $1 billion.
This recent purchase is the first one made by this particular whale in a year and a half. Currently, Bitcoin is trading at $65,722 on the Bitstamp exchange, having gained 0.9% in the last 24 hours.
Crypto analytics firm Santiment reports that the Bitcoin community is currently experiencing fear or disinterest towards the cryptocurrency. This sentiment is considered rare, indicating that the trading community may have reached a state of capitulation. Historically, periods of fatigue like this are followed by price rebounds.
Despite the prevailing sentiment, Bitcoin is only 11% away from its all-time high, suggesting that it is far from entering a bear market phase.
In the realm of cryptocurrency news, Ripple’s top lawyer has raised questions following a recent SEC decision related to Ethereum. Additionally, there are discussions around the potential for Ethereum (ETH) to gain strength, the uptrend of XRP, and the future of Shiba Inu (SHIB).
These developments in the cryptocurrency market highlight the ongoing dynamics and the interest of significant players like the Bitcoin whale in shaping the landscape of digital assets.
