Whales took advantage of the drop in Bitcoin (BTC) price and made large purchases.
Bitcoin, which reached an all-time high last week, experienced a 10% drop in the last 3 days. Whales who saw these declines as a buying opportunity turned to exchanges.
According to the on-chain analysis platform Lookonchain, a whale with the wallet address “1L7gnf” made a purchase of 820 Bitcoin worth $51.62 million through the crypto exchange Binance on March 19.
The same whale, taking advantage of the continuous declines since March 14, made a total of 3,532 Bitcoin purchases worth $222 million.
Another newly opened whale wallet “bc1q6d” bought 425 Bitcoin worth $26.85 million through Binance on March 19.
Whales seeing declines as a buying opportunity and making purchases worth hundreds of millions of dollars highlighted clear expectations that the bull market will continue.
