Bitcoin (BTC) Prices Consolidate Above $40K as Whales Buy the Dip

• 100M dollars worth of Bitcoin was purchased by the Luna Foundation Guard (LFG).
• Recently MicroStrategy added 4,167 bitcoins to its holdings.

Over the past 24 hours, over $1 billion in Bitcoin (BTC) has flowed out of crypto exchange platforms, indicating that Bitcoin (BTC) whales are operating. After a low of roughly 2,300 transactions per day in early April, deep-pocketed BTC investors have been making over 4,000 transactions per day, each over $1 million, according to data from the crypto analytics business Santiment this week. Bitcoin is currently trading at $40.173 as per CMC.

$1.05B Worth BTC Exited Exchanges

Santiment believes a large increase in activity might indicate that the top digital asset is poised to recoup the losses it incurred in April after it had climbed to levels not seen since the end of 2021 only a few weeks previously. According to the market intelligence firm, more than $1.05 billion worth of cryptocurrency was withdrawn from cryptocurrency exchange platforms in the previous 24 hours. In addition, famous analyst CoinsKid tweeted a chart showing a possible head and shoulders forming down to wick 3.

A price surge for the most valuable crypto asset might be in the works, according to Santiment. A Bitcoin acquisition binge by Luna Foundation Guard (LFG) aims to surpass MicroStrategy as the world’s biggest Bitcoin holder. However, popular analyst Crypto Rover being optimistic, tweeted a chart stating he couldn’t spot the downtrend.

On Wednesday, one hundred million dollars worth of Bitcoin was purchased by the Luna Foundation Guard (LFG), which is in charge of the Terra protocol, and another five million dollars worth of Bitcoin the next day. Luna Foundation Guard now ranks as the 18th biggest Bitcoin holder in its pursuit of the top slot to MicroStrategy. Last Monday, MicroStrategy added 4,167 bitcoins to its holdings, putting the business some distance away from the LFG.