Analysis: Bitfinex whales have been accumulating BTC throughout most of the bear market

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Cointime2024/07/05 06:38

By:Cointime

WhalePanda has been accumulating BTC during most of the bear market. As the price began to rise in November of last year, he started selling some of his positions. Then, after the approval of ETFs and a large outflow of GBTC, he started accumulating again at the end of January. When the price rose to $70,000, he began actively reducing his positions. Now, every time he sells, it is below $62,000 and he is slowly but surely accumulating. It is estimated that he buys around 300-400 BTC per day, which almost completely covers the new bitcoins mined each day (450 BTC every 24 hours).

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Coinomedia•2025/05/07 11:33