The ‘Whales’ group today showed no signs of slowing down BTC holding addition activity. During the recent big price drop, a group of ‘whales’ have started buying BTC worth almost $ 3.5 billion.
‘Whales’ who are individuals or groups holding large amounts of BTC believe that this ‘bullish’ cycle is still going on. Data revealed that whales took the opportunity to buy $ 3.5 billion, or 67,000 BTC as the BTC price plummeted to the $ 42,000 price level.
As we all know on December 5, the BTC price has fallen to its lowest level since the end of September which is $ 42,000 which is a drop of more than $ 16,000 in a day. Among the crypto exchanges most affected by the price drop was the Huobi crypto exchange where the BTC price fell to $ 28,800 immediately.
According to data firm Santiment, the behavior of ‘whales’ has played a role in driving up prices. The firm, which specializes in social metrics and chains over 2,000 crypto assets, revealed that addresses holding between 100 and 10,000 BTC buy 67,000 bitcoins in total starting at $ 43,500.
Bitcoin has recovered back to $ 50,100 on Monday and the group has played this game of manipulation so it can be said to be perfect. Based on addresses holding between 100 to 10,000 BTC have also reduced their holdings before the price drop.
Meanwhile, earlier today the third largest BTC ‘whale’ group also took advantage of the decline and bought more than 2,700 BTC in a day at a price of around $ 50,000.
