The biggest non-exchange Bitcoin (BTC) whale in the world is buying up BTC in June despite bearish price movement.
According to BitInfoCharts, the whale has increased its net holdings by 927 Bitcoin this month.
The address purchased 300 BTC on June 7th, sold 500 BTC on June 9th, and then bought another 425 BTC on June 13th, 488 BTC on June 14th and 214 BTC on June 15th.
The whale is the third-richest wallet in the world, behind the Binance and Bitfinex cold wallets.
Bitcoin is trading for $22,587 at time of writing. The top-ranked crypto asset by market cap is up more than 2% in the past 24 hours but remains down more than 25% on the week.
The crypto analytics firm Santiment notes whales show interest in BTC when it trades around $22,000.
“Bitcoin’s network had a total of 12,969 whale transactions exceeding a value of $100k+ between 2 pm UTC [Monday] and 2 am UTC [Monday]. This was the largest amount since May 2021, indicating whales are acknowledging $22,000 as a major BTC level of interest.”
Santiment also says social metrics indicate the number of people interested in “buying the dip” has spiked since the crypto crash earlier this week. The firm says this tends to lead to short-term price rises but continued volatility over the longer term.
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Featured Image: Shutterstock/Rolling Stones
Source: https://dailyhodl.com/2022/06/16/biggest-bitcoin-whale-in-existence-in-accumulation-mode-stockpiles-20900000-in-btc/