Bitcoin whale makes strategic $29.36 million purchase as market dips By Investing.com
[ad_1]
© Reuters
NEW YORK – Amidst a broader market downturn, a whale has executed a significant transaction, withdrawing 700 BTC from Binance. This move, amounting to roughly $29.36 million, comes as Bitcoin’s price fell below the $41,000 mark today. The average price at which the Bitcoin was withdrawn stood at $41,948 per coin, indicating a strategic purchase during the price drop.
In a similar vein, an investor took advantage of the lower prices by acquiring 3,600 ETH, valued at approximately $8.9 million. The timing of the buy suggests a tactical decision, especially considering the investor’s history of profitable Ethereum trades, which have previously netted an estimated $25.8 million in gains.
The cryptocurrency market has seen a notable decrease in trading volumes, with Bitcoin experiencing a significant drop. Ethereum’s price has also declined in line with the market trend.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
[ad_2]
Source link
© Reuters
NEW YORK – Amidst a broader market downturn, a whale has executed a significant transaction, withdrawing 700 BTC from Binance. This move, amounting to roughly $29.36 million, comes as Bitcoin’s price fell below the $41,000 mark today. The average price at which the Bitcoin was withdrawn stood at $41,948 per coin, indicating a strategic purchase during the price drop.
In a similar vein, an investor took advantage of the lower prices by acquiring 3,600 ETH, valued at approximately $8.9 million. The timing of the buy suggests a tactical decision, especially considering the investor’s history of profitable Ethereum trades, which have previously netted an estimated $25.8 million in gains.
The cryptocurrency market has seen a notable decrease in trading volumes, with Bitcoin experiencing a significant drop. Ethereum’s price has also declined in line with the market trend.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
About The Author
