CandleFocus Giant Bitcoin Whale Buys $696 Million in BTC, What's Happening?
2024-10-08
Author: Content Editor
Bitcoin is struggling to break through the $64,000 price range, but recent activity from large-scale investors, or whales, may indicate a potential rally. A significant Bitcoin whale recently withdrew 250 BTC from Binance, valued at around $15.6 million. This is not their first purchase, as they accumulated 10,158 BTC at an average price of $67,026 previously, with a total value of $681 million. Despite currently being in a loss of approximately $46 million, the whale continues to hold their coins, suggesting optimism for future gains. This long-term holding trend by whales can encourage other investors to avoid panic selling and create a bullish sentiment in the Bitcoin community, potentially leading to a significant boost in price.
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