The third-largest Bitcoin whale has gone on a record buying spree by making several consecutive purchases.
In a matter of two weeks, one of the largest BTC whales has accumulated more than 6,600 coins as the price of the asset has declined by more than 10% in the same timeframe.
This particular whale tends to sell when the asset’s price has appreciated significantly in a short period of time and vice-versa.
In the past several weeks, though, they have been focused on accumulating only, as CryptoQuant’s analyst VentureFounder informed.
Starting from November 12th, the entity has made eight consecutive purchases as bitcoin’s price was declining. The first one, for 1,123 BTC, came at just over $64,000, while the last one – from yesterday, was at a price tag of $57,400 and was for 616 BTC.
In total, the whale has accumulated 6,665 coins in less than two weeks. From a USD perspective, this amount is roughly $375 million in today’s prices.
According to VentureFounder, this whale now has their highest wallet balance in four months when they were accumulating at prices around $30,000.