June 15, 2021

Chainalysis: Bitcoin bought 77,000 BTC during the market fall

Chainalysis: Bitcoin bought 77,000 BTC during the market fall

In May, the price of cryptocurrencies dropped significantly. According to Chainalysis, the whales took advantage of the situation and purchased a total of 77,000 BTC.

In the latest Chainalysis report, the chief economistThe company wrote that "whale investors" bought more than 77,000 bitcoins last week, worth about $ 3 billion. This data is based on market monitoring by the Chainalysis team.

Last week, the price of bitcoin dropped from $ 49,000 to $ 30,000, liquidating more than $ 3.3 billion of positions in one hour at one point.

TheBlock reports that major hedge funds and asset managers are buying bitcoin in the $ 30,000- $ 35,000 price range.

According to the same report, during the fall in price, many investors sold their bitcoins at a loss. About 120,000 BTC were sold for a quarter cheaper than the purchase.

Anthony Pompliano confirmed the activity of large investors in the market downturn. According to him, large hodlers have added 122 588 MTC to their address balances.

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