Bitcoin
Big Bitcoin whale buys $395 million worth of BTC after recent price crash
Alex Dovbnya
This is the biggest purchase made by the huge whale in 1.5 years
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According to blockchain analytics platform Lookonchain, a whale recently purchased a whopping $395 million worth of Bitcoin (BTC).
The whale purchased $794 million worth of Bitcoin during the 2022 bear market.
The whale made more than $1 billion after selling 37,000 ($1.74 billion) at an average price of $46,800 in 2023 and 2024.
This is the first purchase made by the aforementioned whale in 1.5 years.
The leading cryptocurrency is currently trading for $65,722 on the Bitstamp exchange after adding 0.9% in the last 24 hours.
Bitcoin Fatigue
According to cryptocurrency analytics firm Santiment, the Bitcoin crowd is currently in a state of fear or disinterest.
As noted by the company, such a level of fear, uncertainty and doubt (FUD) is considered “rare” as it appears that the Bitcoin trading community has reached the capitulation stage.
The company added that these periods of fatigue are often followed by price swings.
At the same time, it is important to note that Bitcoin is just 11% away from its current all-time high, meaning it is far from bear market territory.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the booming industry – from price analysis to Blockchain disruption. Alex has authored over 1,000 stories for U.Today, CryptoComes, and other fintech media outlets. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets. He can be reached at alex.dovbnya@u.today.