Bitcoin Whale Aggressively Accumulates $282,380,000 Worth of BTC During Correction: On-Chain Data

A Bitcoin whale has stacked over $282 million in BTC since late March as the flagship digital asset struggles to find a bottom after hitting all-time highs.

First spotted by blockchain tracking firm Lookonchain, an address beginning with “12QVsfA” bought 4,380 BTC worth $282.38 at an average price of $64,471.

Says Lookonchain,

“After the price of BTC dropped, this whale bought another 620 BTC ($39.8 million) at the bottom.

Since March 21, this whale has bought 4,380 BTC ($282.38 million) at $64,471 from Binance.

Address:12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo.”

On the same day, the firm also spotted another whale depositing over $77.67 million worth of Bitcoin into crypto exchange Kraken. While it’s unclear what the whale plans to do with their coins, depositing them onto Kraken means they could potentially sell the BTC on the open market.

Citing data from crypto “de-anonymizing” service Arkham, Lookonchain says the entity has accumulated over $1.68 billion worth of Bitcoin in just a month and a half.

“A whale deposited 1,200 BTC ($77.67 million) into Kraken 43 minutes ago.

The whale accumulated 24,755 BTC ($1.68 billion) at an average price of $68,051 from Mar 1 to Apr 15.

Address:bc1qcpflj68s3ahy4xajez4d8v3vk28pvf7qte2jmlftvxzfke2u6mqsge3gvh”

At time of writing, Bitcoin is trading at $63,315, 14% down from its all-time high of $73,737.

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