Since the data shows classic bull market behavior, bitcoin (BTC) whales are back in the game around $60,000 after the last drop. The third-largest Bitcoin whale address has increased its holdings by 207 BTC, according to on-chain data tracking sources on Nov. Here are the details.
According to BitInfoCharts, Bitcoin’s third-largest non-exchange whale address (1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ) bought 207 BTC today at 8:41:44 on November 16th at an average price of $62053. https://t.co/BLLyUsezE5 pic.twitter.com/GMjsTw6VBx
— Wu Blockchain (@WuBlockchain) November 16, 2021
Whales buy from the bottom
Despite falling 8% in the last 24 hours, Bitcoin’s biggest investors continue to buy Bitcoin as a solid asset. Whale, which is currently the third largest address with a balance of 193.433.46915660 BTC, added $12.84 million to its balance at a price of $62,053 per Bitcoin.
Commenting on the event, journalist Colin Wu said, “According to BitInfoCharts, Bitcoin’s third-largest over-the-counter whale address (1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ) bought 207 BTC at an average price of $62,053 today at 08:41:44 on November 16.” said and added:
“As of now, this address has increased its holdings by 635 BTC in November. The current balance of this address is 108,528.56 BTC.”
This type of whale behavior is quite common during bull runs, as evidenced by data covering previous cycle peaks.
Finally, $62,000 in heavy buyer volume wasn’t enough to prevent a retest of lower levels on Tuesday, contrary to expectations from Whalemap, a dedicated tool to monitor whale activity.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.