The world’s richest non-exchange Bitcoin whale, which holds $5.5 billion worth of BTC, has dived back into the crypto market for another whopping accumulation of Bitcoin (BTC).
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According to the data from BitInfoCharts, the whale address, which holds over 120,000 BTC worth relatively $5.5 billion has purchased another 3,241 BTC, as the largest cryptocurrency struggles to hold above the $45,000 resistance level.
On 5th April, the Bitcoin whale, which is the third-richest overall after the wallets owned by cryptocurrency exchanges, initially purchased 289 BTC, followed by another whopping accumulation of 2,952 BTC, making 3241 BTC within 24 hours. The dollar value of the newly purchased BTC is relatively $141 million at current prices.
The accumulation of Bitcoin initiated by the anonymous whale came after a series of major outflows in recent weeks.
Between 21st and 31st March, the whale address sold 3,000 BTC. And from 1st April to the early hours of 5th March, another 4,500 BTC moved away from the wallet, bringing the total value of outflows to around $336 million in the space of three weeks.
Massive Bitcoin Whales’ Accumulation in April
The on-chain analyst at blockchain analytics firm Glassnode claimed that April has so far seen a massive purchase of Bitcoin (BTC).
A pseudonymous analyst at the firm identified on Twitter as Checkmate pointed out that both whales and holders with less than 1 BTC are on a buying spree.
“A historically strong month of Bitcoin buy side has seen exchange outflows hit approximately 96,000 BTC per month, with Shrimp and large Whales leading the charge. We still need to see market follow through, but there has been an impressive volume taken off market recently.”