Bitcoin Whales 395 Million Purchase Is Now a Good Time to Invest

A clever Bitcoin investor, commonly referred to as a “smart whale,” has re-entered the Bitcoin market by making a substantial purchase of 6,070 Bitcoins worth $395 million during a recent market downturn. This acquisition marks the whale’s first purchase in over 18 months, following a successful track record of strategic buys and profitable sales that have earned over $1 billion.

Here’s all the important information you need to know.

Opportunity for Discounted Bitcoin?

Many individuals within the cryptocurrency community believe that this could be the final opportunity to purchase Bitcoin at a lower price before it embarks on a new upward trend. The whale’s actions are closely monitored by the blockchain analysis firm Lookonchain, which has highlighted their proven ability to make smart moves within the market.

During the bear market of 2022, this investor bought approximately 41,000 BTC at an average price of $19,000 per Bitcoin, totaling $794 million. This strategy proved to be highly lucrative during the bull markets of 2023 and 2024. The whale sold 37,000 BTC at an average price of $46,800 per Bitcoin, earning a staggering $1.74 billion and a profit exceeding $1 billion.

A smart whale recently purchased 6,070 BTC ($395M) during the recent market downturn!
This particular whale acquired around 41K BTC ($794M) during the bear market of 2022 at an average price of approximately $19K.
They subsequently sold 37K BTC ($1.74B) during the bull markets of 2023 and 2024 at an average price of $46.8K, resulting in a profit of over $1B!
This…
pic.twitter.com/hBxxtlizgh
— Lookonchain (@lookonchain)
June 20, 2024

Insights into the Market

Lookonchain emphasizes that most of the whale’s sales were impeccably timed with market highs, demonstrating their expertise in navigating the volatile market conditions. The recent purchase of 6,070 BTC, valued at $395 million, indicates a strong re-entry into the market and suggests a positive outlook for the future of Bitcoin. This move has generated significant interest and speculation within the cryptocurrency community.

Future Predictions

Bitcoin (BTC) is currently facing challenges in maintaining its value above the $65,000 level, experiencing losses of approximately 4% over the past week and dropping below $65,000 for the first time since May 16. In the last 24 hours alone, approximately $72.60 million worth of BTC has been liquidated, with $49.62 million of that coming from long positions.

The $65,000 level is viewed as a critical support point. If the selling pressure persists, Bitcoin may experience further decline, potentially reaching around $61,000. Given the whale’s history of successful trades, many are closely observing this latest move as Bitcoin and other cryptocurrencies continue to face significant market fluctuations.

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