Large Investors Buy the Dip
Bitcoin’s biggest investors have been quietly buying up the cryptocurrency while the market has been in a frenzy. According to IntoTheBlock, these “Large Holders” (owning at least 0.1% of the total supply) have been adding to their stashes.
Whales See Opportunity in Crash
Yesterday’s crash, which saw Bitcoin drop below $60,000, presented an opportunity for whales. They snapped up a net 7,130 BTC, worth around $439 million.
Bullish Indicators
In addition to the whale buying, there’s another potential bullish sign. Exchanges have received a large influx of USDC (a stablecoin). This suggests that investors are moving funds to exchanges to trade for cryptocurrencies like Bitcoin.
Bitcoin’s Current Price
At the time of writing, Bitcoin is hovering around $61,500, down slightly over the past week.
