While small investors and traders were panicking amid the recent bloodbath in the crypto market, large investors were busy buying the dip, and according to recent data, whales accumulated about 3,000 bitcoins (BTC) worth approximately $198 million during the period.
Instead of avoiding the market’s volatility, whales seized the opportunity of the price dip to strengthen their bitcoin positions. The acquisition of 3,000 BTC indicates that these investors maintain a bullish outlook regarding the digital asset’s future potential despite the short-term market fluctuations.
Hoewever, these whales may be expecting more market crash as the amount of bitcoins acquired is lesser than the 80,000 BTC acquired during the market dip on March 20, according to a tweet on X.
NEW: 🐳 Whales acquire 3K #BTC (💵 $198M), less compared to after the March 20th dip (80K #BTC), possibly expecting a deeper price slide.
This aligns with #Bitcoin's price fall last week amid broader market risk aversion. pic.twitter.com/WLHEuH9uye
— Bitcoin News (@BitcoinNewsCom) April 15, 2024
Commenting on the tweet, some users expressed panic, with one user noting that the recent crash is due to price manipulation and it is far from over. The user expects BTC to crash to $40,000 in the coming days.
The price manipulation is far from over. Big shakeout to 40k incoming, be ready.
— Ivan (@Ivan1948143) April 15, 2024
Whales’ decisions to accumulate more crypto assets during price dips are not uncommon in the market. During bloodbaths, large investors often increase their holdings, seeing them as an opportunity to acquire digital assets at a discounted rate.
Due to the size of their trades, whales can create a significant wave in the crypto market. As such analysts are closely monitoring and observing whale activity, as it often indicates market sentiment and potential price movements in the crypto space.
