Bitcoin whales saw the token’s latest dip as another buying opportunity, with chain data showing at least $1.2 billion BTC was accumulated as the token sank below $30,000 again.
The Global crypto market has decreased by 3% in the last 24 hours. The king of cryptocurrency, Bitcoin (BTC) is also trading down by 3% in the same period. The whales might have seized the opportunity to buy the dip in the middle of the shaky market conditions.
BTC whale address hits 21 month low
According to the whale Alert, over 43,600 Bitcoins have been added by whales in multiple transactions in the last 24 hours. In a bid to buy the dip, the three different transactions of whales buying 9.6K Bitcoins were recorded by the tracker.
More than $1.1 Billion worth of BTCs was transferred from Coinbase to different unknown wallets simultaneously. This trend easily suggests that Whales are now confident that they might see a much dip ahead in the price. While it is still a cheap buy looking at the all time high of the Token. The global crypto market is valued at $1.25 trillion, at the press time, which is more than 50% low compared to its November 2021 high of $3 trillion.
As per Glassnode, the number of Bitcoin whales number has reached a 21 month low of 1,761. The last low was recorded on 21 September 2020.
BTC records $1.6 Billion of inflow in 24 hours
The Bitcoin is trading at an average price of $29,257, at the press time. Yesterday, saw a broad market recovery, still, BTC is down by over 18% in the past 7 days. Bitcoin dominance stands at 44.52%. However, its total market has shrunk to $557 Billion. However, its 24 hour trading volume is also down by 34% at $34.2 Billion.
According to Glassnode, the daily on-chain exchange flow show that around $1.6 Billion have flown into the Bitcoin over the 24 hours. While over $1.5 Billion has gone out of the BTC at the same time. The Net Flow stands at an increase of $73.5 Million.
- LUNA Price Jumps 1500%, Time To Buy Or Another Trap?
- Terra Founder Proposes Revival Plan But LUNA 2.0 Shall Be An Uphill Task, Here’s Why
- Just-In: Circle Mints 8.4 Billion USDC Within 7 Days, Why?
- Buy The Dip? Whales Add $1.2 Bln Bitcoin As Price Falls Below $30K
- Just In: Tron’s New Addition Takes Stablecoin Supply Beyond $1 Billion
- Just-In: BAYC Votes For “Ape Drops” NFT Marketplace; What’s Next?
- Investors Warn On Bitcoin Dip, Here’s What They Say
- Not Just UST; Terra Crash Hits These Cryptos Hard
- Another Fantom Hack? FTM Slumps 15% After DEX Attack
- VanEck and 21Shares Suspend Their Terra ETPs After Recent Collapse
- Ripple Price Analysis: XRP Price Remains Pressured below $0.50; Is Selling A Good Choice?
- MANA Price May Tumble By 42%; Here’s Why
- BTC Price Consolidates Below $30,000; Is $34,000 Feasible From Here?
- XRP Price Prediction 2022-2027 : Will The Ripple Come out of the SEC Case ?
- Ripple Price Analysis: XRP Price Approaches $0.50; Is Bounce Back Feasible?
- Polkadot Price Analysis: Declining trendline Prevents DOT Price Recovery
- FTM Price Analysis: Retest to Channel Support Hints at Bullish Recovery
- Decentraland Price Analysis: MANA price Jumps 57%; Bulls Target $1.50 Next?
- Ethereum Price Analysis: Is $2,500 On The Way Amid RSI Bullish Divergence?
- GALA Price Analysis: $0.075 Fakeout Triggers A Potential Recovery