Whale Acquires $6.7M in Bitcoin, Accumulating $230M as Market Reacts to US Jobs Data ⋆ ZyCrypto
The post Whale Acquires $6.7M in Bitcoin, Accumulating $230M as Market Reacts to US Jobs Data ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Bitcoin bulls are struggling to maintain their earlier gains, driven by positive U.S. inflation data. After the Wall Street opening on May 16, Bitcoin (BTC) fell below $66,000, even as new U.S. macroeconomic data supported the bullish outlook. Taking advantage of the price slip, an unidentified Bitcoin whale has made headlines by purchasing 101.7 BTC, valued at over $6.7 million. This move brings the whale’s total Bitcoin holdings to a staggering $230 million, amassed over the last two months. This substantial acquisition comes as the market grapples with volatility and reacts to significant economic data from the United States. Bitcoin Whale Makes Big Moves Amid Market Uncertainty According to a post shared by crypto analyst Lark Davis on X, a whale, a term used to describe entities holding large amounts of a crypto asset, bought 101.7 BTC. This is part of a broader accumulation strategy that has seen the whale amass $230 million in Bitcoin over two months. This purchase occurred as Bitcoin prices hovered around $65,236 after falling from the critical $66,000 mark. A whale just bought 101.7 Bitcoin worth over $6.7 million dollars. In the last 2 months (while you were bearish), this guy accumulated $230 million worth of $BTC. If you keep selling your precious Bitcoin in times of fear, whales will continue to accumulate. pic.twitter.com/zV1MHBDbt0 — Lark Davis (@TheCryptoLark) May 16, 2024 This acquisition is particularly noteworthy, given the current market conditions. The Bitcoin market has been experiencing notable fluctuations, with BTC/USD slipping below $66,000 following the release of new U.S. economic data. Despite a recent rally, which saw a 7.5% increase in Bitcoin’s price, maintaining these gains has proven challenging. Advertisement   The latest U.S. jobless claims report, released on May 16, showed 222,000 new claims, slightly below the forecasted 220,000. This…
Filed under: News - @ May 18, 2024 4:14 am