Third-Biggest BTC Whale Purchase Another $137M Worth Of BTC

The third-biggest BTC whale purchased another $137 million worth of BTC at a price of $50,000 just as the number one cryptocurrency started its recovery so let’s read more in today’s latest BTC price news.

The third-biggest BTC whale accumulated more than 2700 coins in one day as the crypto spiked higher than $50,000 so the mysterious investors bought over 5600 BTC in the past two weeks. In the past few days, BTC cooled off as it crashed from $58,000 to a low of $42,000 on Saturday. However, the whale remained silent during the crash and didn’t make any purchases in a known wallet. As BTC started to recover and reclaim its $50,000 position, the entity started accumulating so now they have bought 2702 coins at an average price of $50,621 meaning that they had spent about $140 million.

You already bought 8,117 #BTC in the low $50k since the November correction, BTC dumped <$50k suddenly, what do you do?

The 3rd largest #Bitcoin whale wallet: BUY 2,702 more BTC in one day.

This #whale wallet added 2,702 $BTC today at $50.6k for a whopping total of $136.7M USD. pic.twitter.com/BlbcgpKbrR

— venturefoundΞr (@venturefounder) December 7, 2021

One analyst from CryptoQuant pointed out that the whale accumulated 5624 BTC since November worth $290 million at today’s prices. The analyst also added that this is officially the highest number of coins ever held in the wallet 118,017 as the whale spent around $2.5 billion. The previous record was set in July when the asset dropped below $30,000.

As recently reported, Following the latest price drop when BTC dumped below $50,000, the crypto finally bounced off and reclaimed the level while the alternative coins were also in the green and got some impressive gains most evidently from Cardano, Ethereum, Solana, Polkadot, Avalanche, and more but if you want to see the real-time value of Ethereum, make sure to check out our ethereum price calculator. The past few days didn’t go well for the main cryptocurrency because the asset dropped by $16,000 in a matter of a few hours to a month-low of $42,000. BTC tried to recover over the weekend with a boost towards $50,000 but the bears didn’t allow a price jump over the level so the subsequent rejection only pushed it to $47,000 again.

The BTC market dominance drops over the weekend but Ethereum’s market dominance increased. During the crypto crash over the weekend, Bitcoin’s market dominance dipped to a low level that has not been seen before. The entire market was suffering at one point on Saturday with the market dominance of the first and biggest crypto being set at 38.32%. The only time that it dropped this low was back in May when it hit 37.76% as per CoinGecko. This is not far from the lowest dominance ever back in 2018 when it touched 33% but in 2018, Bitcoin hovered around 40%