Whales just bought R$14 billion in Bitcoin, says Chainalysis

Charlie Taylor

Pizza Day FoxbitBlockchain data analysis platform Chainalysis is revealing that major investors have bought tens of thousands of bitcoin, while the largest cryptoactive asset by market capitalization has dropped to less than $40,000. , Chainalysis reveals that, as some investors left their positions at a loss, Bitcoin whales bought large amounts of BTC at the height of the cryptocurrency correction.

“So last week was a challenge for everyone in cryptocurrency and some investors incurred big losses. But the industry appears to be responding and most investors remain confident. For example, investor whales bought the fund, acquiring 77,000 Bitcoin last week.”

At the time of this writing, each bitcoin was trading at $34,908, giving the huge whale purchase a value of around 14.04 billion reais. The company adds that 1.2 million Bitcoins were sold with one loss between 5% and 25%. Another 120,000 BTC were sold at a loss of 25% or more. Chainalysis estimates that most sales came from short-term holders.

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“For Bitcoin, at least $3.2 billion was lost last week. This is only for Bitcoin that has been withheld for at least four weeks before being shipped, a restriction that increases the certainty that these are real losses. Almost all of that $3.2 billion loss was incurred by Bitcoin held between 4 and 13 weeks, suggesting that recent investors were the biggest sellers.”

See also: Meet the gamer who makes $2,000 a week with NFT games

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