Bitcoin
‘$1 Million in BTC’ Samson Mow Provides Epic Stats on Bitcoin Whales by U.Today
U.Today – The price of (BTC) has been on a real rollercoaster ride in recent days, with a substantial drop of over 15% last week leading to even more uncertain swings.
Thus, the leading cryptocurrency has seen a significant drop in recent days, falling from $64,000 to just under $54,000 in five days. This was followed by attempts by buyers to recover the decline.
However, despite recapturing the $59,000 mark, it has failed to maintain that price consistently. At the time of writing, Bitcoin is trading at $58,465, which nevertheless represents a 6.5% recovery since the start of the week.
Against the backdrop of these market fluctuations, Samson Mow, a prominent figure in the cryptocurrency industry and a proponent of $1 million BTC, noticed remarkable activity from Bitcoin whales.
Bitfinex Whale History
Mow claims that since mid-June, whales on the Bitfinex exchange have purchased nearly 12,000 BTC. Based on current prices, this accumulation represents an investment of around $720 million. Activity of this magnitude could indicate a high level of confidence and demand among large investors.
It is important that this is data from Bitfinex, because in addition to being a large cryptocurrency exchange, it is one of the oldest, operating in the market since 2012. Activity on Bitfinex is closely monitored by experts, as large amounts of BTC often appear there, influencing overall market trends.
Furthermore, Bitfinex was one of the first professional platforms created for cryptocurrency trading, which means that many veteran whales who have a lot of experience in crypto reside here, and their activities can say a lot about the mood of the most influential market participants.