Recent Data on Richest Bitcoin Wallets Shows Some of the Biggest BTC Whales Bought Over 5,000 BTC Drop
Chinese journalist Colin Wu, who covers everything related to the blockchain and crypto space, has taken to Twitter to share data about today’s purchases made by major cryptocurrency whales.
Three of them bought a large amount of falling Bitcoin today, January 7, and one of them sold the amount the other three bought together.
Over 5,300 Bitcoins bought by three whales
Citing BitinfoCharts, Colin Wu writes that three of the top 50 BTC whales have purchased 5,322 Bitcoins. The 33rd largest wallet added 3,000 BTC. The amount of BTC stored in the 34th largest one has grown by 1,455 Bitcoins, and another wallet owner bought 867 BTC. That amounts to 5,322 Bitcoins in total, worth $225,204,067 at the current BTC/USD exchange rate.
However, while these three whales bought more Bitcoin on the decline, the owner (s) of the 32nd largest wallet sold almost the same amount of BTC: 4,250 coins.
Wu stressed that none of these four addresses are marked as belonging to any crypto exchange.
Investors increase their exposure to Bitcoin
As shared by South Korea-based data aggregator CryptoQuant, Bitcoin ELR (Estimated Leverage Level) on digital exchanges hit a record high of 0.026. This indicates that more and more investors are increasing their exposure to the flagship global cryptocurrency by taking high leverage.
Bitcoin recovers above $42,000
Over the past few hours, the leading digital currency has gained 2.10%, rising to the $42,454 level from $41,500. By now, though, BTC is changing hands at $42,308.
Earlier this week, due to several factors, including the Federal Reserve’s announcement of a possible interest rate hike and the substantial drop in the Bitcoin hashrate due to internet shutdowns following the riots in Kazakhstan, the flagship crypto plunged from over $ 46,500 to just above the $ 42,000 mark.
As reported by U.Today on Thursday, CEO of Galaxy Digital hedge fund Mike Novogratz shared with CNBC that he expects Bitcoin to bottom out at $38,000.
