Recent data on the richest Bitcoin wallets shows that some of the biggest Bitcoin whales bought more than 5,000 Bitcoin during the dip.
Three whales buy Bitcoin
Chinese journalist Colin Wu shared this on Twitter about the huge purchases of the crypto whales. Three of them bought a huge amount of Bitcoin during the dip yesterday.
Colin Wu writes that three of the top 50 Bitcoin whales bought BTC during the dip. For example, the third largest wallet has bought 3,000 Bitcoin. The 33rd largest whale bought 1,455 BTC tokens and another major investor bought another 867. That equates to 5,322 Bitcoin in total, worth $225,204,067 at the current Bitcoin price.
Wu emphasized that none of these four addresses do not belong to a crypto exchange.
According to BitInfoCharts, in January 7th, the 33rd largest Bitcoin address increased 3000 BTC, the 34th increased 1455 BTC, the third increased 867 BTC, the 32nd reduced 4,250 BTC. None of the above addresses are marked as exchange addresses. https://t.co/he2xQpd553
– Wu Blockchain (@WuBlockchain) January 7, 2022
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Investors Increase Exposure to Bitcoin
The Bitcoin ELR (estimated leverage level) on exchanges has reached a record high of 0.026. This indicates that more and more investors are increasing their exposure to Bitcoin by taking high leverage. So it seems that investors expect the dip to be over now.
Earlier this week, the BTC price crashed from $47,000 to under $41,000. This price increase was caused by the the Federal Reserve’s announcement of a potential rate hike and the decline in the Bitcoin hashrate due to internet restrictions due to the riots in Kazakhstan
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