Bitcoin has corrected over the past few weeks and has become a great opportunity to buy dips for BTC whales, especially one whale that has added BTC 6,770 to $384.29 million (approximately Rs 2,878.3 crore). Kitty in less than two weeks. The whale, the third largest BTC whale, has been buying bitcoin in pieces for nine days in a row, their latest purchase on Thursday when they added another BTC 105 (worth $5.96 million / approx Rs 44.63 crore) to their account. . Wallet.
As analyst VentureFounder of Cryptoquant, this particular whale appears to be very active, buying and selling assets whenever there is a sharp decline or appreciation, but given the rough patch of bitcoin lately, whales are looking to accumulate BTC. Being in competition. commented on twitter, Since November 12, whales have made nine consecutive purchases as the price of bitcoin was falling. The first one, for BTC 1,123, came in over $64,000 (approximately Rs 47.94 lakh), while the last one – from Thursday, was priced at $57,900 (approximately Rs 43.3 lakh) and was for BTC 105.
Another day, another purchase:
6,770 BTC added in < 2 weeks. This has been the most aggressive accumulation since the June/July sell-off. pic.twitter.com/qhmEhYOE27
— VentureFounder (@VentureFounder) November 25, 2021
According to the VentureFounder, this whale now has its highest wallet balance in four months, when bitcoin was worth around $30,000 (roughly Rs.22.46 lakh).
Crypto analytics firm Sentiment claims Bitcoin Whales, in general, have been buying dips. On Twitter, the firm noted that active bitcoin whale addresses between BTC100 and BTC10,000 have accumulated about BTC 59,000 during last week’s price drop. At the time of this writing, the trading volume of bitcoin was $58,498 (approximately Rs 43.8 lakh), that amount of BTC currently stands at around $3.45 billion (approximately Rs 25,845.59 crore).
Sentiment also says that despite recent bearish price action, the supply of bitcoin is eroding away from exchanges, mitigating the risk of a massive sell-off. Additionally, according to the sentiment Weighted Emotion TrackerAccording to the analytics firm, the current social sentiment for bitcoin is at its most bearish level in seven weeks.
Sentiment’s Weighted Sentiment Tracker a. Analyzes positive and negative comments around crypto Property. The firm says that when social sentiment becomes too high and the metric becomes too low, prices move upward.