Crypto Whales Scoop Up $227 Million and Arthur Hayes Closes Short Position—Is a Market Rebound Coming?
Crypto whales are making bold moves, seizing the opportunity to buy Bitcoin as its price dips. Recent reports reveal that whales have purchased over $227 million in Bitcoin within the past week, signaling confidence in a market recovery. One whale, known as 36LMb, withdrew nearly $55 million worth of Bitcoin from Binance, leading the pack.
Other whales followed suit, with major players like 1KuPi, bc1qg, and fresh wallet 39xG8, all moving significant amounts of Bitcoin amid a steep 11% drop in its price. This dip, fueled by outflows from U.S. Bitcoin ETFs, pushed Bitcoin down to around $52,550—an ideal entry point for large investors.
Historically, whale buying during market dips often precedes price recoveries. Bitcoin has already rebounded 4% from last week’s low, currently hovering near $55,000.
With notable investors like former BitMEX CEO Arthur Hayes closing their short positions, and economic data hinting at a possible Federal Reserve rate cut, the market appears poised for a potential bounce. The next few weeks could be pivotal for Bitcoin’s trajectory.
