Whales buy bitcoin

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The transparency of the blockchain allows you to track all transactions with cryptocurrency, including those on the accounts of large investors, the so-called whales. The BitInfoCharts resource collects statistics to the addresses with the largest BTC accumulations and allows you to see what is happening with the balances of these accounts.

Earlier, analysts recorded an influx of stablecoins to exchanges, which may also indicate that the whales are preparing to buy cryptocurrency.

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famous purse bitcoin whale since the beginning of the month, replenished by 1000 BTC. Now he has 128,800 bitcoins on his balance sheet, worth almost $3 billion at the current rate.

If we exclude the Binance and Bitfinex cold wallets from the statistics, this whale will be the world’s largest holder of cryptocurrency.

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Due to the fall in the value of bitcoin, the balance of the wallet in dollars has decreased significantly. However, the graph shows that BTC holdings have been growing steadily throughout the lifetime of the wallet.

Other large investors are also buying bitcoins. According to Santiment, an analytical resource that offers statistics on on-chain indicators and social media sentiment, Bitcoin whales are defending the $22,000 level.

On Monday, transaction volumes of over $100,000 approached 13,000, the highest since May 2021, indicating that Bitcoin whales see $22,000 as a key buy level.

On-chain statistics show what is happening in the blockchain, but do not help to understand the mood in the community. To fill this gap, Santiment also analyzes social networks. According to the latest data, the number of people interested in the opportunity to buy on dips rose sharply at the beginning of the week. Keyword queries #buyingthedip (buy on dip) peaked in May. Santiment considers this dynamic to be an indirect sign that the market is heading for a correction.

“Such sentiments tend to portend growth in the short term. In the long term, high volatility remains,” explain experts.

At the time of publication, BTC/USD is holding near $21,000. The cryptocurrency has fallen in price by 30% over the week and was testing the $20,000 area at the moment. A bullish hammer candlestick pattern appeared on the Bitcoin chart, indicating a high probability of a reversal. However, this signal requires confirmation in the form of a bullish candle on the daily interval.

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Source: Cryptocurrency

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