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An exclusive crypto whale has made headlines for capturing the opportunity in the recent market plunge to amass Bitcoin. As per Spot On Chain, the whale accumulated up to 801 $BTC amid a recent price dip. The on-chain analytics provider disclosed this incident on social media.
A new whale took advantage of the recent price drop to accumulate 801 $BTC ($77.55M) from #Binance at an average price of $96,815 over the last 17 hours!
— Spot On Chain (@spotonchain) December 11, 2024
Follow @spotonchain and check out the whale’s wallets at:
1/ Accumulating address: https://t.co/fP1gbLwmcR
2/ Storing… pic.twitter.com/sS84gWrCb5
Crypto Whale Buys the Dip, Accumulating $77.55M in Bitcoin
Spot On Chain pointed out that the whale has obtained noteworthy attention for leveraging the chance to buy a dip. In this respect, the whale accumulated $77.55M in Bitcoin during a recent decline in the token’s price. The data reveals that the whale carried out these Bitcoin purchases over seventeen hours. The average price of the purchases was $96,815 for each $BTC.
This Bitcoin accumulation takes place at a point when the top crypto token is going through significant volatility. This has paved the way for a good moment to facilitate the deep-pocketed investors to expand $BTC holdings. The whale reportedly executed transfers via the prominent crypto exchange Binance, further fortifying its impact on the market. The accumulation also signifies a resilient belief in the future potential of Bitcoin and the whale’s preparedness to capitalize on the present price levels.
The Move Underscores the Rising Confidence of Key Bitcoin Investors
According to Spot On Chain, the whale’s $BTC accumulation mirrors the solidifying confidence among the key Bitcoin investors. As Bitcoin keeps navigating its present price range, investors are eyeing the possible outcomes and impact of this big bet.