Cryptocurrency whales continue to buy from the bottom as the decline in Bitcoin price continues.
According to TradingView data, Bitcoin is on Bitfinex, one of the largest cryptocurrency exchanges, compared to exchanges such as Binance and Coinbase. with $80 premium is being traded.
Market analyst Byzantine General, “Someone on Bitfinex has been buying BTC with TWAP non-stop for 3 days in a row and that’s why there is a very high premium on Bitfinex. “My estimate is that there has been an accumulation of $50 million in spot so far.” said.
Briefly known as TWAP Time Weighted Average Pricelarge-scale buying and selling transactions small amounts over time It is an algorithmic order strategy that allows division and time-weighted average price as basis.
Bitfinex whale, Bitcoin price crashed yesterday with outflows from Grayscale Bitcoin Trust (GBTC) below $39 thousand It continued even when it fell.
Cryptocurrency followers are responsible for these purchases due to their corporate connections with Bitfinex. Made by Tether He speculated that it might be.
While these transactions are being made, Bitfinex long positions There was also an increase in the number of over 73 thousand output.