After consolidating at $29,000 for a long time, Bitcoin experienced a sharp and sudden drop.
BTC fell as low as $ 25,000, while the largest altcoin Ethereum (ETH) fell to $ 1,580.
While some investors expect further declines, others are buying, thinking that the current levels are the bottom.
At this point, popular platform Lookonchain said some whales had bought the bottom.
Stating that four whales have received 56.1 thousand ETH worth $94 million in the last 7 days, Lookonchain said:
“Whales are accumulating ETH from the bottom.
Four whales have received 56.1 thousand ETH worth $94 million in the last 7 days.
A whale is worth 18k ETH worth $30 million;
Another whale worth $3.4 million 2,000 ETH
The other whale is worth $30 million, 17.9 thousand ETH
The last whale bought 18.2 thousand ETH worth $30.6 million.”
ETH continues to trade at $1,672 at the time of writing.
*Not investment advice.