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....”
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
