The 3rd largest Bitcoin whale “discharged” BTC at $56k, but immediately bought it back at $57k the next day

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2021-10-16 07:05:27

This is the first time in two months that the world’s third largest Bitcoin whale wallet has sold for a lower price but bought it back at a higher price a day later.

The 3rd Largest Bitcoin Whale Discharges BTC at $56k, but immediately buys it back at $57k the next day

One of the biggest Bitcoin whales, who has been quite active recently, sold 1,500 Bitcoins at $56,200, or $84.3 million, on Oct. 12. What’s interesting is that this whale made i.e. buy back a third of the above amount, about 494 BTC a day later at a higher price at 57,364 USD.

Third Biggest Bitcoin Whale Action.  Source: Twitter
Third Biggest Bitcoin Whale Action. Source: Twitter

This is the latest action after the “discharge” on October 7 and 8 of the above wallet address. However, Bitcoin did not flinch and continued to “pump” strongly at the time. Previously, the wallet had accumulated millions of USD in crypto since the beginning of September.

In fact, the last sale of the wallet before October 5 was on September 2. There have been four consecutive sales for a total of 7,500 Bitcoins in about a week. What’s more interesting is that this is the first time since August that this player has accepted to buy at a higher price right after selling some parts at a lower price.

Perhaps, before the upcoming Bitcoin ETF event and a lot of good news coming to BTC, the whale quickly “collected” again. According to the current update, the total storage of the world’s 3rd largest whale wallet is 105,758 Bitcoin (over $6 billion in fluctuating BTC prices). Furthermore, the unrealized profit was $4.3 billion.

– See more: SEC did not prevent Bitcoin futures ETF from launching, BTC immediately “built a column” above 59,000 USD

However, the positive activity of the top Bitcoin wallets always gives a positive signal in terms of market sentiment. Especially in the context that the inflow of money into Bitcoin is very strong as institutional investors continue to rush to buy BTC, but retail investors are still not ready to participate. This will be a huge boost to attract individual traders to come back stronger, thereby setting a solid foundation for Bitcoin’s growth.

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