Whale’s $58M Bitcoin Bet Sparks Speculation on Market Rebound!

The post Whale’s $58M Bitcoin Bet Sparks Speculation on Market Rebound! appeared first on Coinpedia Fintech News

For good reasons, a Bitcoin whale known for dumping 467 million worth of BTC tokens in the July crunch is back in the markets. Recently, the whale purchased 1000 Bitcoins from Binance worth almost $58 million. With this purchase, the market witnessed the second such significant action within the last four days, accounting for 2000 Bitcoins at an average price of $58,525. In 2024, the same whale had sold 7790 Bitcoins near the $60,000 level, resulting in a 14% drop. Currently, the whale’s Bitcoin holding stands at 8,559 Bitcoin, valued at $494 million. With this recent purchase, are the whales expecting a bounce back in Bitcoin?