Bitcoin (BTC) whales are back in the game near $60,000 as data shows classic bull market behavior.
According to on-chain monitoring resources on Nov. 16, the third-largest Bitcoin whale address has increased its holdings by 207 BTC.
Whales buy the dip
Despite falling 8% over the past 24 hours, Bitcoin remains a solid buy for its biggest investors.
For one address, now the third largest with a balance of 193433.46915660 BTC, added the equivalent of $12.84 million to its balance at a price of $62,053 per bitcoin.
“As of now, this address has increased its holdings by 635 BTC in November,” journalist Colin Wu noted in comments on the event.
“The current balance of this address is 108,528.56 BTC, and the unrealized income is 4,632,109,617.37 USD.”
Such whale behavior is in fact common