CryptoQuant analyst VentureFounder also commented on Twitter. In which it was said that this particular whale seems to be very active, whenever there is a rapid decline or increase, the transaction is being seen in it. But now that there has been a decline in bitcoin for the past several days, it is busy accumulating assets. Whales have made nine consecutive purchases since November 12 as the price of bitcoin was falling. The first transaction was for 1,123 bitcoins when the value of bitcoin exceeded $64,000 (approximately Rs 47.94 lakh). Whereas its last transaction was for 105 bitcoins when the asset was valued at $57,900 (about Rs 43.3 lakh).
Another day, another buy:
The 3rd largest #Bitcoin whale wallet added 105 more #BTC today at $57.9k for a total of $6M USD. This is the 9th straight business day of buying.
6,770 BTC added in <2 weeks. This has been the most aggressive accumulation since June/July sell-off. pic.twitter.com/qhmEhYOE27
— venturefoundΞr (@venturefounder) November 25, 2021
According to VentureFounder, this whale now has its highest wallet balance in four months, when bitcoin was worth around $30,000 (roughly Rs.22.46 lakh).
Crypto analytics firm Santiment claims that bitcoin whales are buying dips in general. On Twitter, the firm noted that active bitcoin whale addresses between 100 bitcoins and 10,000 bitcoins have accumulated 59,000 bitcoins during last week’s falling prices. At the time of writing the news, the price of bitcoin was around Rs 43.08 lakh.
Santiment also says that despite the recent downturn, the supply of bitcoin from exchanges is decreasing, mitigating the risk of a massive sell-off. Additionally, according to Sentiment’s weighted sentiment tracker, bitcoin’s social sentiment is currently at its lowest level in the past seven weeks. This means that the enthusiasm for the bitcoin cryptocurrency is still at a low level.
weighted of sentiment sentiment tracker Analyzes positive and negative comments around crypto assets. The firm says that when the social sentiment is too high, the prices go very high and when it is very low, the prices also fall very low.
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