Recent data on the richest Bitcoin wallets shows that some of the biggest Bitcoin whales bought more than 5,000 Bitcoin during the decline.
Three whales buy bitcoins
Chinese journalist Colin Wu shared this on Twitter about the massive purchases of crypto whales. Three of them bought a huge amount of bitcoin during the drop yesterday.
Colin Wu wrote that three of the top 50 bitcoin whales bought bitcoin during the decline. For example, the third largest wallet has bought 3000 bitcoins. The 33rd largest whale bought 1,455 bitcoins and another major investor bought 867 more. This equates to 5,322 bitcoins in total, valued at $225,204,067 at the current bitcoin price.
Wu emphasized that none of these four addresses belong to the cryptocurrency exchange.
According to BitInfoCharts, on January 7th, the 33rd Bitcoin address increased by 3000 BTC, the 34th address increased by 1455 BTC, the third address increased by 867 BTC, and the 32th address decreased by 4250 BTC. None of the above addresses are marked as exchange addresses. https://t.co/he2xQpd553
– Wu Blockchain January 7 2022
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Investors are increasing their exposure to Bitcoin
Bitcoin ELR (Estimated Leverage Level) on exchanges has reached a record high of 0.026. This indicates that more and more investors are increasing their exposure to Bitcoin by taking advantage of the higher leverage. So it seems that investors are expecting the decline to be over by now.
Earlier this week, the price of BTC dropped from $47,000 to Less than $41,000. This price increase was due to Fed Announces Possible Rate Hike, Bitcoin Hash Rate Falls Due to Internet Restrictions Due to Kazakhstan Riots
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