A prominent Bitcoin whale has recently acquired over 600 BTC (equivalent to approximately $43.33 million) in just two weeks. Lookonchain, a well-known on-chain analytics firm, has revealed that this additional accumulation has pushed the whale’s total holdings to a staggering 2,000 BTC, valued at around $144.82 million. The news of this significant increase in holdings has been widely discussed on the social media platform X.
In the past two hours, the whale has acquired another 600 BTC, bringing their total holdings to 2,000 BTC. With this recent surge in Bitcoin accumulation, the whale has also gained an unrealized profit of $6.3 million. The whale’s address is bc1quyzu5xj0m4nczlfa0njzfgf8z0t7spsfz28ly5cn6v8w8mk4ra5s07ypfr.
According to Lookonchain, this buying spree by the whale has resulted in substantial unrealized gains of up to $63 million. This demonstrates a high level of confidence in the long-term potential of Bitcoin’s price. The crypto community has taken note of this activity, particularly as Bitcoin has shown resilience in maintaining key support levels. As a result, there is a strong possibility of a bullish breakout in the near future.
It is surprising to see whales continue to accumulate Bitcoin despite the recent surge in its price. The only plausible explanation for this behavior is the fear of missing out (FOMO) following the price increase that pushed BTC above the $72,000 mark.
The on-chain data confirms that the whale is actively purchasing large amounts of BTC. This strategic approach to entering the market reflects a timely decision. With Bitcoin experiencing a relatively stable market outlook, the recent accumulation by whales during consolidation phases suggests a potential price appreciation in the future.
Many observers interpret the whale’s ongoing accumulation as a bullish sign for the broader crypto market. The popularity of the whale’s address, as highlighted by Lookonchain, is further evidence of this sentiment. Whale activity often indicates the involvement of high-net-worth institutional investors, which in turn influences retail investors and contributes to a positive market sentiment overall.
