The biggest non-exchange Bitcoin whale ever in existence is loading up on BTCs during the recent market crash. While the price of Bitcoin is affecting a majority of investors, the top BTC whale is going all-in. Bitcoin is now hovering around the $21,000 mark but could slump further due to the weak market conditions. The Feds raised interest rates today at 0.75% to “battle inflation” which is at 8.6%, the highest in 40 years. All these conditions could drag the markets down and bring in another round of corrections for the investors.
Read More: Why Is Bitcoin Crashing This Year?
Coming back to the top Bitcoin whale, BitInfoCharts shows that the leading whale has increased his/her portfolio by purchasing a staggering 927 Bitcoins in June 2022 alone. The whale made use of Bitcoin’s dip during the bear market and accumulated it in a dramatic fashion.
The top non-exchange Bitcoin whale purchased:
300 BTC on June 7
425 BTC on June 13
488 BTC on June 14
214 BTC on June 15
The overall purchase stands at a whopping 1,427 Bitcoins this month alone during the crash. However, it also sold 500 BTC on June 14, making the count to stand currently at 927 Bitcoins at present.
Source: Bitinfocharts.com
Also, the whale is the third-richest wallet in the world and is only next to Binance and Bitfinex cold wallets. Nonetheless, the identity of the biggest non-exchange Bitcoin whale remains to be a mystery.
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The on-chain and metrics platform Santiment reported that whales have shown interest in Bitcoin when its price was 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,” they tweeted.
What’s Next For Bitcoin?
Source: Pixabay
Financial analysts have predicted that Bitcoin could see yet another crash and trade even lower from its current price. While crypto critic Peter Schiff has predicted BTC will touch $5,000, the other analysts claim that Bitcoin will fall anywhere between $11,000 to $18,000.
Additionally, the CEO of JP Morgan revealed that the crypto market crash is just the beginning. He stated that the markets will go further underwater and predicted that 2022 will be a tough year.
Read More: MicroStrategy CEO Michael Saylor Says This Is an Ideal Entry Point To Buy Bitcoin
At press time, Bitcoin was trading at $21,789 and is up 3.51% in the 24-hours day trade. BTC is down 68.6% from its all-time high of $69.044 which it reached in November last year.