Analysis: Bitfinex whales have been accumulating BTC throughout most of the bear market
WhalePanda has been accumulating BTC during most of the bear market. As the price began to rise in November of last year, he started selling some of his positions. Then, after the approval of ETFs and a large outflow of GBTC, he started accumulating again at the end of January. When the price rose to $70,000, he began actively reducing his positions. Now, every time he sells, it is below $62,000 and he is slowly but surely accumulating. It is estimated that he buys around 300-400 BTC per day, which almost completely covers the new bitcoins mined each day (450 BTC every 24 hours).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Subscribe to ETH Earn products for dual rewards exclusive for VIPs— Enjoy up to 10% APR and trade to unlock an additional pool of 50,000 USDT
Bitget Spot Margin Announcement on Suspension of SANTOS/USDT, MYRO/USDT, DUSK/USDT, PHB/USDT, ALPINE/USDT Margin Trading Services
CandyBomb x RAVE: Trade futures to share 200,000 RAVE!
Bitget TradFi: Trade gold, forex, and more assets in one account
