Bitcoin whales have been increasing their long-term investments despite the crypto market’s uncertainty.
The cryptocurrency market was initially shaken earlier this week as a result of recent statements by some members of the US Federal Reserve (Fed) about their plans to raise interest rates.
Some Whales, on the other hand, see this as a buy the dip chance and have begun to accumulate. According to a snapshot published on Twitter by @Capital15C, there is a Bitcoin (BTC) account that pours around $1,000,000 in digital gold every day, regardless of market variations.
The screenshot spans the time period from February 22, 2022, until now. The account had 8,652 Bitcoins (BTC) at the start of this era, but on April 7, 2022, it had assigned over 9,779 Bitcoins (BTC).
As a result, he bought Bitcoins (BTC) at a variety of prices, ranging from $35,000 to $47,000. His/her confidence appears to be growing: “daily” investments have risen to almost $1.2 million in recent days.
The dollar-denominated value of assets held by the specified account climbed by 30.67 percent, from $326 million to $426 million.
The same analyst also discovered a super-aggressive whale that has tenfold increased its bag size since the start of March 2022. He grew his wealth from $36 million to $434 million by purchasing 500-1000 Bitcoins (BTC) per day.
The activities of whales is sometimes seen as a useful indication of Bitcoin price performance. Some large-scale holders, as we are seeing presently, are staunch proponents of the DCA plan.
Whales rock the boat in the market because they have such a large share of the market. The current accumulation could indicate that an upswing is on the way, as market movers exhibit increased conviction.