Bitcoin whales enjoy the price crash to buy over $180 billion worth of BTC


  • Bitcoin’s third-largest non-exchange whale has accumulated a total of 3038 BTC at an average price of $59,744. 
  • Whales and miners have been accumulating Bitcoin in batches throughout the recent drop in BTC price. 
  • Drop below $57,000 has sparked a sell-off in Bitcoin and Ethereum, analysts argue this is an “attractive entry” for traders and holders.

Whales started accumulating BTC through the dip below $60,000. Based on data from IntoTheBlock, the number of BTC addresses holding Bitcoin for over a year has hit an all-time high. 

Bitcoin whales continue accumulation through price drop below $57,000

Bitcoin price dropped below $57,000 on November 18, and the accumulation by non-exchange whales hit a peak. The third-largest non-exchange whale scooped up 3038 Bitcoin tokens over four transactions, worth $180 billion. 

Colin Wu, a Chinese cryptocurrency journalist, has reported it on a tweet:

Historically, Bitcoin whale transactions have influenced BTC prices. The recent accumulation by BTC whales has turned investors bullish on Bitcoin. 

Traders holding Bitcoin for over a year have acquired BTC at an average cost of $17,750. This implies that holders are at a great advantage. 

Bitcoin funding rates, periodic payments to long or short traders based on the difference between perpetual contract and spot prices, have dropped. The funding rates are now lower than the level seen in Q1 2021. 

Proponents consider the declining funding rates as a sign of dropping leverage. Though the asset’s price plunged below $57,000, analysts have argued that it is now an “attractive entry” for traders. 

Delphi Digital, a research firm, recently published a report on crypto. The report argues that:

The initial sell-off was largely driven by a wave of liquidations rather than a fundamental shift in narrative.

Evaluating the recent BTC price trend, analysts are expecting a bounce in Bitcoin. @_Checkmatey_, a pseudonymous cryptocurrency analyst, is bullish on BTC. 

FXStreet analysts expect the BTC price to drop to $57,000 as the correction has begun. 

 


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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Dogecoin and Shiba Inu Price Forecast: DOGE and SHIB show early signs of a bullish breakout

Dogecoin and Shiba Inu Price Forecast: DOGE and SHIB show early signs of a bullish breakout

Dogecoin (DOGE) and Shiba Inu (SHIB) show early signs of a potential rally as both meme coins stabilize at key support levels. On-chain metrics for dog-themed meme coins show positive funding rates and dormant activity, reinforcing bullish sentiment. The technical outlook also supports the case for double-digit gains.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: BTC inches toward all-time high, ETH and XRP defend key support levels

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: BTC inches toward all-time high, ETH and XRP defend key support levels

Bitcoin (BTC) price stabilizes at around $106,400 at the time of writing on Wednesday, just 3% shy of its record peak. Ethereum (ETH) and Ripple (XRP) hold strong above their key support levels. 

US lawmakers question SEC Chair Atkins over President Trump's meme coin ties with Justin Sun

US lawmakers question SEC Chair Atkins over President Trump's meme coin ties with Justin Sun

The Securities and Exchange Commission (SEC) Chair Paul Atkins sat with House of Representatives members at Tuesday's House Appropriations Committee hearing to discuss the agency's stance on President Donald Trump's affiliated meme coin launches and the Trump family ties with Justin Sun.

Ethereum Price Forecast: ETH holds steady at $2,500 despite increasing selling pressure

Ethereum Price Forecast: ETH holds steady at $2,500 despite increasing selling pressure

Ethereum (ETH) held steady above $2,500 on Tuesday despite investors stepping up their selling pressure with high profit-taking and loss realization activity. Ethereum saw another round of rising selling activity on Tuesday, following a decline across the Mean Coin Age metric of short-term holders (STHs) and long-term holders (LTHs).

Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand

Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand

Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP