Bulls capitalize during Bitcoin dip, accumulate 23,998 BTC (~$281 million) from OKEx
|- Between 6 pm - 8 pm UTC this Thursday, BTC/USD dipped below $11,000.
- Bulls made one 2,998 BTC buy order and seven consecutive buy orders of 3000 BTC each from OKEx.
This Thursday, Bitcoin’s value fell from $11,710 to $11,150, reaching a low of $10,965. During this period, the Twitter account “Whale Alert,” noticed some interesting trade activities. It looks like some trader(s) decided to accumulate vast amounts of Bitcoin during the dip. It is impossible to say if one or multiple whales did this, but Whale Alert recorded eight straight buy orders worth 23,998 BTC (~$281 million). Of this, one buy order was worth 2,998 BTC and seven straight was worth 3,000 BTC.
Reactions to these buy orders varied from shock to fears about a possible hack. Here are some of the reactions to the tweets:
Diary of a made man:
“Accumulation.”
Smokey Crabtree:
“Pulling out money to buy Christmas presents when PrimeDay hits in a few days. #AmazonPrimeDay.”
Kevin:
“counted 8 transactions... someone got their 1%.”
Theoatrix OSRS”
“@OKEx did you guys get hacked?”
Royce :
“wtf better not be a hack.”
B4nGS0uND:
“thanks, @realDonaldTrump ..now the world is buying #BTC x'D u fool....”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.