A savvy Bitcoin investor, often called a “smart whale,” has re-entered the Bitcoin market with a substantial purchase of 6,070 Bitcoins worth $395 million during a recent market dip. This is the whale’s first acquisition in over 18 months, following a history of strategic buys and profitable sales exceeding $1 billion.
Here’s everything you need to know.
Last Chance for Discounted Bitcoin?
Many in the crypto community believe this could be the last chance to buy Bitcoin at a lower price before it starts a new bull run. The whale’s actions are closely tracked by blockchain analysis firm Lookonchain, which highlights a proven track record of smart market moves.
During the 2022 bear market, this investor bought around 41,000 BTC at an average price of $19,000 per Bitcoin, spending $794 million. This strategy paid off significantly during the bull markets of 2023 and 2024. The whale sold 37,000 BTC at an average price of $46,800 per Bitcoin, earning $1.74 billion and a profit of over $1 billion.
Market Insight
Lookonchain notes that most of these sales were perfectly timed with market highs, showcasing the whale’s expertise in understanding the volatile market. The recent purchase of 6,070 BTC, valued at $395 million, signals a strong re-entry into the market and suggests a positive outlook on Bitcoin’s future. This move has generated significant interest and speculation within the crypto community.
Future Predictions
Bitcoin (BTC) is currently struggling to stay above the $65,000 level, posting losses of around 4% over the past week and dropping below $65,000 for the first time since May 16. In the last 24 hours, $72.60 million worth of BTC has been liquidated, with $49.62 million of that from long positions.
The $65,000 level is seen as an important support point. If selling continues, Bitcoin might fall even further, possibly to around $61,000. Given the whale’s history of successful trades, many are closely watching this latest move as Bitcoin and other cryptocurrencies continue to face significant market fluctuations.
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