Top Bitcoin Whale Buys $395 Million in BTC After Recent Price Drop

According to blockchain analytics platform Lookonchain, a whale recently bought a whopping $395 million worth of Bitcoin (BTC).

The whale bought $794 million worth of Bitcoin during the 2022 bear market.

The whale earned more than $1 billion after selling 37,000 ($1.74 billion) at an average price of $46,800 in 2023 and 2024.

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This is the first purchase made by the aforementioned whale in a year and a half.

The leading cryptocurrency is currently changing hands at $65,722 on the Bitstamp exchange after adding 0.9% in the last 24 hours.

Bitcoin Fatigue

According to cryptocurrency analysis firm Santiment, the Bitcoin crowd is currently in a state of fear or disinterest.

As the company noted, such a level of fear, uncertainty and doubt (FUD) is considered “rare” as it appears that the Bitcoin trading community has reached the stage of capitulation.

The company added that these periods of fatigue are usually followed by price rebounds.

At the same time, it is worth noting that Bitcoin is only 11% away from its current all-time high, meaning it is far from bear market territory.