While the crypto market is still in a bear market, and the Bitcoin price was oscillating below the $ 23,000 mark, a new Bitcoin whale appeared in the crypto ecosystem.
The whale decided to buy over $3 billion worth of Bitcoin within a short period of time.
Bitcoin Whale Becomes the Third Largest BTC Owner
The new whale, whose identity has not yet been revealed by the crypto community, bought Bitcoin for the first time on July 15, 2022.
The majority of the BTC was acquired by the whale on three different days. On July 19, 2022, the whale acquired 15,499 BTC, which at that time was worth about $ 345.9 million. After that, the purchase amounts increased significantly. On July 20, 2022, the whale bought a total of 45,499 Bitcoinwhich at that time cost the equivalent of 1.060 billion US dollars.
On July 21, 2022, the whale then accumulated, according to the data of BitInfoCharts 71,879 BTC worth $1.64 billion.
With these purchases, the new whale is now the third largest Bitcoin owner in the world. According to data from BitInfoCharts, the new whale currently owns 0.70% of all BTC in circulation.
In total, there are 132,878 BTC in the whale’s wallet, which are worth 2,909 billion US dollars at the current exchange rate.
Until now, the identity of the new entrant in the market remains unknown. There is also no indication of who the new Bitcoin whale could be. It could be either an individual or a group.
Be that as it may, the new whale undoubtedly influenced the current rise in the Bitcoin price over the past week. In a bullrun, the new whale is most likely to make a huge profit.
Whales Buy in Spite of Crypto Bear Market
While many institutions and companies are currently withdrawing from the crypto market, the big crypto whales continue to remain active on the market and continue to accumulate cryptocurrencies. Even if the crypto whales continue to buy BTC, their activity is not currently reflected on the Bitcoin price. In recent weeks, there has been only a comparatively small increase in the btcprice.
At the time of publication of this article, the Bitcoin price is slightly below $ 23,000 and still about 65% away from the last all-time high ($ 69,000) of November 2021.
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