The 3rd largest Bitcoin whale takes advantage of the dip to buy $23 million worth of BTC

BTC from the third largest whale

The WhaleAlert service reported this big transaction during the day yesterday. The anonymous whale that holds the third largest Bitcoin address bought 490 BTC, at the same time the cryptocurrency was trading for $46,800. That equates to a transfer of $23 million. The transaction was made on the Coinbase exchange platform.

In total, the address now holds over $5 billion in Bitcoin. The anonymous whale seems to want to accumulate BTC in recent weeks: 38 bitcoins had been purchased on August 26 and 466 on the 27th. If we add up the total at the current price, we are also approaching $23 million.

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Bitcoin’s price struggles to recover from its fall

Two days ago, the Bitcoin price took an impressive dive, losing -18% in about ten hours. Since then, the BTC price has been hovering between $47,000 and $44,000, but has not yet recovered to pre-crash levels:

Cours Bitcoin BTC

Source: TradingView, BTC/USDT

The entire cryptocurrency markets have been affected by this fall. The total crypto capitalization is showing $2.1 trillion this morning, up from over $2.37 trillion two days ago:

Capitalisation cryptomonnaies

Source: CoinMarketCap

But as we’ve seen, for some whales, this decline, however, seems to be just a good excuse to restock…

Read – In El Salvador, Starbucks, McDonald’s and the rest were forced to go Bitcoin (BTC)


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About the author : Marine Debelloir

The 3rd largest Bitcoin whale takes advantage of the dip to buy $23 million worth of BTC

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Associate Editor on Cryptoast, I fell into the crypto-currency pot a few years ago. I’m passionate about the innovative technologies that stem from blockchain and I love to dig up the most juicy news to share with you.
All articles by Marine Debelloir.