Major investors seem to have lost interest in Elon Musk’s comments on cryptocurrencies, continuing to buy into Bitcoin despite the market correction.
Accumulation is going on in the whale world
According to data from analytics platform Santiment, whale wallet addresses – which contain between 100 and 10,000 BTC – are largely unaffected by recent market developments, more specifically controversial tweets. by Elon Musk.
In contrast, whales are now actively buying into Bitcoin. Santiment claims to have accumulated around 50,000 BTC worth nearly $2 billion into wallets.
The data shows that whale investors reaped huge profits when BTC reached an all-time high of nearly $65,000 in mid-April. Not stopping, large investors also actively ‘bottom-fishing’ BTC. at the price area of $ 30,000 during the correction.
Elon Musk is no longer interested
BTC price hovered around $37,000 for a few days before suddenly bouncing back at $39,000 recently.
However, Tesla CEO Elon Musk broke the rally with a tweet implying “Breakfast Bitcoin” on June 4, causing the leading cryptocurrency to lose more than $3,000 in just a few hours.
This is not the first time Musk has caused turmoil in the market. However, the big guys seem to no longer pay attention to the billionaire’s comments on social networks.
Over the past time, Musk’s role and alleged price manipulation behaviors have been widely discussed among the public. Most believe that the markets will only mature when they stop moving after the activities of Elon Musk.
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