According to VentureFounder, the third-largest Bitcoin (BTC) whale has bought over 2,700 tokens, worth $137 million, in 24 hours. This procurement by the mysterious entity came about when the leading crypto was trading above the $50K threshold. With the latest addition, the total BTC haul by the whale over the past two weeks now stands at 5,600 BTC.
According to CryptoPotato, the unknown whale has a pattern of selling the digital currency whenever it embarks on a sustained surge. Furthermore, the whale also has a tendency to stock up again on BTC when the market price tapers off.
The latest procurement by the whale now lends even more credence to this assertion. This is because BTC price has been dropping from $58K over the past several days, culminating in a low of $42K on Saturday. However, the whale chose not to buy at this price level, instead opting to do so as price regained and hit $50K earlier in the day. The reason for the initial delay could be that they needed confirmation that the price was on its way back up.
VentureFounder states that the whale’s wallet 118,017 currently holds its official highest BTC haul, amounting to about $2.5 billion worth of the token.
Image Credits: Pixabay
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