In a notable development within the cryptocurrency market, a prominent Bitfinex whale has significantly increased its Bitcoin acquisitions, now purchasing 450 BTC daily. This surge in buying activity comes at a time when the market is experiencing a moderate bear phase, and The source reports that this trend could indicate a potential shift in market sentiment.
Whale Activity in Bitcoin Market
Adam Back, the CEO of Blockstream, revealed that this whale had previously been acquiring 300 BTC each day. The recent uptick in purchases aligns with the daily supply generated by Bitcoin mining, which could have implications for price stability in the market.
Current Bitcoin Price and Market Implications
Currently, Bitcoin's price is hovering around the $90,000 level. Such substantial buying could influence its trajectory in the coming days.
In a recent development, a Shiba Inu whale transferred 21 trillion SHIB to a Robinhood wallet, raising questions about market strategies. This contrasts with the significant Bitcoin acquisitions reported by a Bitfinex whale. For more details, see read more.
