Crypto Whales Seize $227 Million and Arthur Hayes Closes Short—Will the Market Recover?

Crypto whales are making bold moves, seizing the opportunity to buy Bitcoin as its price falls. Recent reports reveal that whales have purchased more than $227 million in Bitcoin over the past week, signaling confidence in the market’s recovery. One whale, known as 36LMb, led the pack by withdrawing nearly $55 million in Bitcoin from Binance.

Other whales followed suit, with major players like 1KuPi, bc1qg, and new wallet 39xG8 all moving significant amounts of Bitcoin amid a sharp 11% price drop. The drop, fueled by outflows from U.S. Bitcoin ETFs, pushed Bitcoin down to around $52,550—an ideal entry point for large investors.

Whale buying during bear markets has traditionally preceded a price recovery. Bitcoin has rallied 4% from last week’s lows, now hovering around $55,000. With notable investors like former BitMEX CEO Arthur Hayes closing short positions and economic data hinting at a potential Federal Reserve rate cut, the market appears poised for a potential recovery. The next few weeks could be pivotal for Bitcoin’s trajectory.