$BTC The big players are filling their pockets. After hitting $99,500 on November 22, 2024, Bitcoin (BTC) experienced a slight price correction, which briefly brought it back to $90,000. As the war between bulls and bears intensifies as it approaches the symbolic $100,000 per BTC again, each pullback is an opportunity for whales (the richest investors) to buy more of the precious cryptocurrency.

Key points from this article:

Bitcoin peaked at $99,500 on November 22 before undergoing a slight correction in recent days, prompting large investors to buy more BTC.

Over the past 24 hours, bearish speculators have suffered massive liquidations, particularly against Bitcoin, Ethereum, XRP and Dogecoin.

Whales are having fun while short-termists panic and sell at a loss

Whether in traditional finance or in the cryptocurrency sector: large investors, or whales, have always taken advantage of declines to increase their positions on an asset that they consider valuable.

This is what happened once again in recent days on the Bitcoin market. As the analyst nicknamed Caueconomy of CryptoQuant explains on X, whales (owning between 1,000 and 10,000 BTC) took advantage of panic sales to accumulate more bitcoins.

Thanks to the short-term speculators' sales at a loss, very wealthy investors were able to acquire an additional 16,000 bitcoins for their reserves. That is a smart money movement of $1.5 billion for the purchase of Bitcoin.

The richest investors are betting on the long term with Bitcoin.

Whales took advantage of the panic selling from the rejection of $100,000 to gorge themselves on ever more bitcoins.