Bitcoin-Whale buys Bitcoin for $7.6 billion

While some cryptowhale newcomers are overwhelmed by the current price correction, cryptowhales are buying Bitcoin on favorable terms.

- Anyone who owns more than 100 BTC is considered a whale in the crypto world. The number of these whales recently rose to a 17-month high, as data from Santiment shows.

- With 283 new whale wallets, more than 16,000 entities now own more than 100 BTC.

- So-called crypto sharks (investors with at least 10 Bitcoin) have also increased their holdings, according to the analytics firm.

- In total, whales and sharks have purchased more than 133,000 Bitcoins for a total of USD 7.6 billion in the past 30 days, the report adds.

- Whales are individuals or entities that hold large amounts of cryptocurrency. Furthermore, whales are considered crypto whale professionals. Their behavior provides insight into possible future market movements.