Apparently, the “big whale” are accumulating Bitcoin: in the last 24 hours, a whale has purchased 4,500 BTC from Binance, while another 3 wallets have withdrawn a combined total of 1,400 BTC from Bitfinex.
Bitcoin: the purchase of 4,500 BTC on Binance by a Big Whale
According to the tracking platform of the Big Whale, Lookonchain, it seems that in the last 24 hours there have been significant purchases of Bitcoin.
Whales are accumulating $BTC today!
Whale"12QVsf" withdrew 4,500 $BTC($302M) from #Binance in the last 22 hours!
3 wallets(possibly belonging to the same whale) withdrew 1,400 $BTC($94M) from #Bitfinex today and they also withdrew 2,510 $BTC($163M) from #Bitfinex on June 20.… pic.twitter.com/QPVzgIHp5W
— Lookonchain (@lookonchain) July 30, 2024
“The whales are accumulating $BTC today! The whale “12QVsf” has withdrawn 4,500 $BTC ($302M) from #Binance in the last 22 hours! 3 wallets (possibly belonging to the same whale) have withdrawn 1,400 $BTC ($94M) from #Bitfinex today and also withdrew 2,510 $BTC ($163M) from #Bitfinex on June 20.
Address:12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo 3BTSgrNF7MhZEqCWYYK8mSp9YMTz1ZkgRX
3ADUencNf9zzxMvz7QmJtgU5EsBXg1ScEZ
3PBRjqe3mdACy2vBzn6o7M1SgWrh1H7Gr”
In practice, the wallet of the Big Whale, identified as “12QVsf” has purchased on Binance as much as 4,500 BTC, the equivalent of about 302 million dollars.
This whale currently holds 4,500 BTC with an unrealized loss of approximately 12.12 million dollars.
Bitcoin: in the last 24 hours, the Big Whale have bought BTC on Binance and Bitfinex
In addition to the important purchase on Binance, Lookonchain also reports that in the last 24 hours, there have been another 3 wallets that have bought a combined total of 1,400 BTC from Bitfinex.
These wallet have been identified as “3BTSgr”, “3ADUen” and “3PBRjq” and, the whale tracking platform informs that such addresses could belong to the same whale.
At the time of purchase, the 1,400 BTC had an equivalent value of approximately 94 million dollars.
Not only that, this second Big Whale and its three wallets would have already acted last June 20, buying a total of 2,510 BTC always from Bitfinex, the equivalent of about 163 million dollars.
Usually, when the Big Whale buy massive quantities of Bitcoin, it represents the BTC accumulation strategy in anticipation of a possible imminent price increase.
BTC Price Predictions
At the time of writing, BTC is worth $65,800 and is in a slight dump of -1% just in the last 24 hours.
While the purchases of the Big Whale suggest that there could be a bull run in the price of BTC in the short term, there are those who think otherwise.
In fact, recently, the analysts of Bitfinex pointed out that the growth of the last few days, which ended on Sunday, was due to the expectations for the Bitcoin 2024 conference in Nashville, the one in which Donald Trump also participated.
In fact, the price of BTC has risen up to 70,000$, then slightly corrected until today.
In this regard, the analysts at Bitfinex believe that in the short term there could be a stall in the price of BTC or a lateralization.
In any case, even the Bitcoin Fear and Greed Index has dropped to a score of 61, although it remains fully in the Enthusiasm zone.
Bitcoin Fear and Greed Index is 67. Greed
Current price: $66,281 pic.twitter.com/sqPPpMw92b
— Bitcoin Fear and Greed Index (@BitcoinFear) July 30, 2024
It is a full 13 points less compared to the positive sentiment of the weekend, right when the Bitcoin Conference 2024 took place.
