u.today
A colossal purchase of Bitcoin was made earlier today, with a single wallet accumulating over 26,200 $BTC at a price point of $51,000 per Bitcoin.
The transaction, amounting to an eye-watering total of approximately $1.3 billion, was spotted on a wallet identified by the address 3M6XpqUc8G8GuHYKQhjAWobo5aGpkdV7u, raising speculation over the buyer's identity, which ranges from sovereign wealth funds to high-net-worth individuals like Jeff Bezos or Mark Zuckerberg.
Whale accumulation
Recent activity within the Bitcoin network displays a significant accumulation trend among Bitcoin whales, defined as wallets holding over 100 $BTC and not associated with any centralized exchanges.
With the last transaction within the past 30 days, these entities seem to be in a state of collection rather than distribution.
The "realized price" for such a whale cohort currently stands at $40.5K, according to cryptocurrency analyst Ki Young Ju.
This behavior underpins a bullish sentiment in the market, indicating that key players are betting on the long-term value of Bitcoin despite short-term price fluctuations.
Bitcoin takes a breather
The current performance of Bitcoin shows a slight increase, with a 0.9% rise to $51,127.05, staying relatively steady within a 24-hour range between $50,660.25 and $51,965.03.
The stability around the $52K mark, however, is interpreted with caution by market analysts.
Swissblock recently argued that Bitcoin's current stall at this resistance level may presage a potential pullback,
Nonetheless, the market's robust trading volumes support a bullish outlook, and the overall market sentiment remains bullish.