Bitcoin whale makes strategic $29.36 million purchase as market dips By

© Reuters

NEW YORK – Amidst a broader market downturn, a whale has executed a significant transaction, withdrawing 700 BTC from Binance. This move, amounting to roughly $29.36 million, comes as Bitcoin’s price fell below the $41,000 mark today. The average price at which the Bitcoin was withdrawn stood at $41,948 per coin, indicating a strategic purchase during the price drop.

In a similar vein, an investor took advantage of the lower prices by acquiring 3,600 ETH, valued at approximately $8.9 million. The timing of the buy suggests a tactical decision, especially considering the investor’s history of profitable Ethereum trades, which have previously netted an estimated $25.8 million in gains.

The cryptocurrency market has seen a notable decrease in trading volumes, with Bitcoin experiencing a significant drop. Ethereum’s price has also declined in line with the market trend.

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