Bitcoin Whales Bought 90,000 Bitcoins

Bitcoin whales bought 90,000 Bitcoins. Bitcoin prices, which have been showing horizontal movements in the region recently, are seen as an opportunity by BTC whales.

Cryptocurrency markets seem to close the week in the red zone again after starting the week in a promising mood. The total cryptocurrency market cap fell 3 percent on a daily basis to $1.6 trillion. No progress was observed in Bitcoin prices either. Bitcoin prices, which were around $ 37,783 at the time of this writing, lost 3.8 percent in the 24-hour period. On a weekly basis, the leading crypto recorded a small increase of 2.2. In addition to Bitcoin, altcoins also fell. Ethereum lost 4.7 percent on a daily basis, dropping as low as $2,345 at the time of this writing. Compared to last week, the decline in ETH prices seems to be around 6 percent. Binance Coin (BNB) and XRP performed -2.2 percent on their 24-hour charts. Cardano (ADA) and Dogecoin (DOGE) are down about 3%, while Uniswap (UNI) prices are down about 5.4%. Among the top 10 cryptocurrencies, the name that lost the most value on a daily basis was Polkadot (DOT), with a decrease of 7.1 percent.

Investors Are Nervous

Besides these developments, the nervous wait of cryptocurrency investors continues. The Fear and Greed index is also in the “fear zone” with a value of 25. The state of uncertainty in Bitcoin (BTC) also showed itself in the Spent Output Profit Ratio (SOPR) indicator. Developed by Glassnode, this indicator displays the gains and losses over a given time frame, providing a rough impression of the market situation. The basis of the indicator is the ratio of Bitcoin's buying prices and selling prices. A value above 1 indicates gains, while values ​​below indicate losses. The SOPR value is currently halfway between losses and gains, revealing market volatility.

Bitcoin Whales Collect 90,000 Bitcoins in 1 Month

While small investors were indecisive, Bitcoin whales took this mood as a buying opportunity. Bitcoin addresses with assets between 100 BTC and 10,000 BTC collected about 90,000 more BTC in their accounts in just 1 month. With this development, the number of BTC in these accounts increased to 9.11 million. This value corresponds to almost half of the circulating BTCs.