News - Crypto whales buy Bitcoin

By Mike Hesp

Crypto whales buy Bitcoin

Bitcoin (BTC)

Whales used the dip in recent days to line their pockets. $50 million flowed into coffers.

The great euphoria was initially followed by disillusionment. Since the admission of Bitcoin Spot ETFs in the US, the Bitcoin price has lost nearly 20 percent of its value.

The world's most valuable cryptocurrency is currently trading just under $40,000.

Large investors are apparently now using the correction to further add to their own holdings. If you have a analyst at X trusts, Whales have allocated a total of $50 million in the past three days.

The crypto exchange Bitfinex was the main venue for the buying wave. Some therefore suspect that stablecoin provider Tether may be behind the moves.

If you want to know what's behind the current sell-off, you can find out more here: 19,200 Bitcoin in one day: What's behind the GBTC?

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