Bitcoin (BTC), which came very close to the new ATH last week, later experienced sharp declines and fell to $67,400 levels.
While the reason for this decline was the decreasing probability of Bitcoin supporter Donald Trump winning on betting sites, whales who thought that every decline was a buying opportunity became active.
According to a post by popular on-chain analytics platform Lookononchain, five whales have accumulated 2,780 BTC worth $192.4 million since November 1.
“Whales are still accumulating BTC since Bitcoin dropped below $70,000!
5 whales have accumulated 2,780 BTC (worth $192.4 million) since November 1.
1DL34f purchased 880 BTC (worth $61.18 million) from Binance at a price of $69,519 and currently holds 1,381 BTC (worth $95.12 million).
bc1qw0 withdrew 615 BTC (worth $41.7 million) from Binance at the price of $67,764.
37SwvX withdrew 595 BTC (worth $41.38 million) from Binance at the price of $69,587.
bc1qay withdrew 550 BTC (worth $38.68 million) from Binance at the price of $70,328.
bc1qzs withdrew 140 BTC (worth $9.48 million) from Binance at $67,764.”
With the US presidential elections just around the corner, analysts predict that Bitcoin will rise if Donald Trump wins, while the BTC price will fall if Kamala Harris wins.
*This is not investment advice.