Bitcoin Whale accumulates 6,770 BTC, worth $ 384 million, in less than two weeks

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Bitcoin has been on a corrective course over the past two weeks and it has turned out to be a huge opportunity for BTC whales to buy the loon, especially a whale that added 6,770 BTC worth 384, $ 29 million (about Rs 2,878.3 crore) to their kitty in less than two weeks. The whale, which happens to be the third largest BTC whale, has bought Bitcoin in pieces for nine consecutive days, their last purchase being on Thursday when they added another BTC 105 (worth 5.96 million dollars / approximately 44.63 crore rupees) to their wallet.

This particular whale appears to be quite active, buying and selling the asset whenever there is a sharp drop or appreciation, but given the rough patch that Bitcoin has been through recently, the whale has been on a wave of accumulation. of BTC, as CryptoQuant VentureFounder analyst commented on Twitter. Starting November 12, the Whale made nine consecutive purchases as the price of Bitcoin fell. The former, for BTC 1,123, was priced at just over $ 64,000 (around Rs. 47.94 lakh), while the latter – from Thursday, was priced at $ 57,900 (around Rs. 43, 3 lakh) and was for BTC 105.

Another day, another purchase:

The 3rd largest #Bitcoin whale wallet added an additional 105 #BTC today at $ 57.9,000 for a total of $ 6 million. This is the 9th consecutive business day of purchase.

6,770 BTC added in less than 2 weeks. This is the most aggressive build-up since the June / July sell-off. pic.twitter.com/qhmEhYOE27

– venturefounder (@venturefounder) November 25, 2021

According to VentureFounder, this whale now has its highest wallet balance in four months, when Bitcoin’s price was around $ 30,000 (around Rs. 22.46 lakh).

Crypto analysis firm Santiment claims that Bitcoin whales, in general, bought the decline. The company notes on Twitter that addresses of active Bitcoin whales holding between 100 BTC and 10,000 BTC accumulated around 59,000 BTC during the price drop last week. With Bitcoin trading at $ 58,498 (around Rs. 43.8 lakh) at the time of writing, this amount of BTC is currently worth around $ 3.45 billion (around Rs. 25,845.59 crore).

Santiment also indicates that Bitcoin’s supply continues to pull away from trading despite the recent price drop, reducing the risk of a sell-off. Additionally, according to Santiment’s weighted sentiment tracker, Bitcoin’s current social sentiment is at its most bearish level in seven weeks, according to the analyst firm.

Santiment’s weighted sentiment tracker analyzes both positive and negative comments surrounding a crypto asset. The company says prices tend to peak when social sentiment gets too high and to peak when metric gets too low.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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