Bitcoin Whales bought nearly $ 3.5 billion (67,000 BTC) in the $ 42,000 crash

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Large bitcoin holders seem to believe this is far from the end of the 2021 bull cycle. Data reveals that whales have seized the opportunity to buy $ 3.5 billion, or 67,000 BTC, so that the cryptocurrency plunged towards $ 42,000.

As CryptoPotato reported on December 5, the price of bitcoin had fallen to $ 42,000 (on Bitstamp) – its lowest point since late September, for a cumulative crash of over $ 16,000 in one day. Huobi – one of the leading cryptocurrency exchanges with a particular focus on the Chinese market – experienced a lightning crash where the price of BTC fell to $ 28.8,000 instantly. All of this resulted in billions of dollars in long positions being liquidated, causing nothing but chaos within the community. Bitcoin whales, however, appear to have played this price move “to perfection,” according to data from Santiment. The company, which specializes in on-chain and social metrics of more than 2,000 cryptocurrencies, revealed that addresses holding between 100 and 10,000 BTC bought 67,000 bitcoins, starting during the dump at $ 43.5,000 . It’s worth around $ 3.44 billion at current prices.

Bitcoin fell back to $ 50.1,000 on Monday, and whale traders played the plunge to perfection. Starting during the dump at $ 43.5,000, addresses holding 100-10,000 BTC racked up an additional 67,000 BTC after emptying the same amount before the price drop.

Source: Santiment Meanwhile, earlier today, we reported that the third largest BTC whale also took advantage of the downturn and bought over 2,700 coins per day at around $ 50,000. SPECIAL OFFER (Sponsored) Binance Free $ 100 (Exclusive): Use this link to sign up and receive $ 100 free and 10% off Binance Futures fees in the first month (terms).

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