As a seasoned crypto investor with over a decade of experience in this wild and unpredictable world of digital currencies, I have learned to take such news with a grain of salt, yet remain cautiously optimistic.
Notably, Whale Alert – a leading tracker of significant cryptocurrency transactions – has identified a substantial Bitcoin withdrawal from Bybit. Currently, this whale possesses an enormous Bitcoin hoard valued at approximately $3.6 billion. This colossal transfer has sparked excitement within the crypto community.
This withdrawal took place while Bitcoin continues to trade below the $70,000 price level. Despite Bitcoin’s recent price slump, data reveals that whales continue to stock up on the world’s largest cryptocurrency.
Whales go on huge BTC buying spree
Previously mentioned data provider disclosed information about an enigmatic individual who transferred an astonishing 2,000 Bitcoins, equivalent to approximately $137 million USD, from Bybit to his personal wallet, anonymously.
According to blockchain records, it’s clear that this particular investor currently controls an impressive 51,710 Bitcoins worth over $3.5 billion.
Most of the feedback was optimistic and motivational: “Let’s move forward,” “Continue purchasing Bitcoin during this decline so we can rise together,” and “It appears that this individual with substantial resources won’t be selling in the near future. This could indicate positive developments.
Someone even asked, “What tf is cooking.”
With the addition of 2,000 BTC, this wallet currently holds a total of 51,700 BTC.
— misterpk (@khemkhao) November 4, 2024
As reported by Lookonchain, an alternate data provider on the X social media platform, over the past month from November 1st, a total of five major cryptocurrency whales have jointly acquired approximately 2,780 Bitcoins, which is equivalent to nearly $200 million in conventional currency.
According to a tweet by @Lookonchain, approximately 880 Bitcoin were taken out of Binance, which was where all five recent purchases took place. This large investor now holds a total of 1,381 Bitcoins, valued at around $95.12 million. The second largest investor acquired 615 Bitcoins and transferred them to their personal wallet. A sum of about 595 Bitcoin, equivalent to $41.38 million, was withdrawn from Binance by the third wallet on this list.
As $BTC drops below $70,000, whales are still accumulating $BTC!
5 whales has accumulated 2,780 $BTC($192.4M) since Nov 1.
1DL34f withdrew 880 $BTC($61.18M) from #Binance at $69,519 and currently holds1,381 $BTC($95.12M).
bc1qw0 withdrew 615 $BTC($41.7M) from #Binance at…
— Lookonchain (@lookonchain) November 4, 2024
Two sets of whales acquired a total of 690 BTC, with one set purchasing 450 BTC worth approximately $38.68 million and the other acquiring 240 BTC valued around $9.48 million. One of these purchases took place when Bitcoin was trading at about $70,328, while the remaining BTC were bought at prices below that amount.
Bitcoin price plunges
From Friday to Sunday, the top digital currency saw a nearly 5% drop, sliding out of the $71,200 region down towards $68,000. In the last day alone, Bitcoin has recouped some losses, with a recovery of approximately 1.99%. At this moment, it is being traded at around $69,060.
It’s thought that the current market turmoil can be attributed to the significant uncertainty surrounding the forthcoming U.S. elections.
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2024-11-04 17:53