As monitored by WhalePanda, Bitfinex Whale spent most of the bear market accumulating BTC, and as prices began to rise last November, he began selling some of his positions. Then, after ETF approvals and GBTC outflows, he started accumulating again at the end of January. When prices rose to $70,000, he began to reduce his positions more aggressively. Now, with each sell-off below $62,000, Whale is slowly but surely accumulating again.
It is estimated that there are around 300-400 BTC mined every day, which almost completely covers the amount of new bitcoin mined every day (450 BTC every 24 hours).
Analysis: Bitfinex whales have been accumulating BTC for most of the bear market
2024-07-05 05:57:30
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