As expected, whales began to accumulate aggressively over the past few days.
BTC Whale Purchases
This week, the Bitcoin market experienced a series of dramatic price fluctuations. Over the weekend, Bitcoin attempted twice to break the key psychological level of $100,000 but failed each time, followed by a strong correction, during which the price sharply declined. On Monday and Tuesday, Bitcoin dipped to $94,400, marking a recent bottom and gaining significant support at that level.
Soon after, Bitcoin quickly rebounded with a very strong posture yesterday. From the aforementioned bottom to $102,000 (the local high on the Bitstamp platform), Bitcoin rose nearly $8,000 in less than a day, restoring market confidence.
This round of severe volatility resulted in over 500,000 over-leveraged traders being liquidated, and so-called 'weak hands' in the market were forced to exit due to panic. However, investors with long-term beliefs, especially those with large capital, took the opportunity to increase their asset holdings. According to on-chain data shared by renowned analyst Ali, 342 new wallets holding at least 100 bitcoins were added during this pullback. This indicates that despite the severe short-term volatility, major players remain confident in Bitcoin's long-term value and view the market adjustment as a good opportunity to accumulate.
Lookonchain states that even if BTC rises above $100,000 again, whales continue to accumulate, with one whale purchasing 201 BTC at such a high price.
XRP and DOGE
Not only Bitcoin shows signs of attracting large capital investments, but other cryptocurrencies like Dogecoin (DOGE) and Ripple (XRP) are also favored by wealthy investors.
On-chain data shows that during the market crash, large investors (commonly referred to as 'whales') took the opportunity to accumulate over 100 million XRP. At that time, the price of XRP quickly fell from over $2.4 to below $2, becoming one of the worst-performing assets during the correction period. However, XRP subsequently demonstrated strong rebound ability, not only erasing all previous losses but also returning to a price of over $2.4. This recovery indicates that major players maintain confidence in XRP's long-term potential, while also highlighting that strategies to accumulate popular assets at lower prices are working in the market.
As the largest and oldest representative in the increasingly volatile meme coin sector, DOGE was not spared either. Its price plummeted from $0.44 to below $0.37, then rebounded to well above $0.4. During this crisis, DOGE whales accumulated assets worth $210 million.
