Bitcoin under $ 90,000: whales benefit from panic

Bitcoin plunges under 90,000 dollars and some take advantage of it! While novices panic and sell at a loss, the giants are in fact accumulated discreetly millions in BTC. We give you all the details in the following paragraphs!

Spoofy accumulates $ 344M in bitcoin

Spoofy is a controversial figure in crypto trading. Accused of Spoofing in 2017, he is known for accumulate bitcoin During massive drops. During the FTX Krach for example, he bought 70,000 BTC at prices between $ 16,000 and $ 40,000. He then sold them between $ 40,000 and $ 70,000.

While the price of bitcoin fell below $ 90,000, this legendary crypto whale strikes again. It comes fromBuy 4,000 BTC For a total of $ 344 million. A strategy that intrigues, especially in view of its alleged manipulation history of the Bitcoin market.

With 24,000 BTC accumulated in 2024, Spoofy once again seems to anticipate a future Bull Run Crypto.

Metaplanet follows the trend and invests $ 13.4M in BTC

Another major entity is positioned on Bitcoin: the Japanese company Metaplanet. The company has indeed issued $ 13.4 million in bonds at 0 % interest in Buy BTC. This therefore confirms its aggressive accumulation strategy.

Since May 2024, the company has acquired 2,235 BTC. According to many cryptography experts, it is inspired by the strategy model (formerly Microstrategy).

Panic of novices, opportunity for crypto whales?

While Spoofy relies on a Bitcoin market reboundmany investors panic. According to Glassnodmore than 2.16 billion dollars of losses made come from new entrants to the market.

In this sense, the founder of cryptocurrency Ki Young JU recalls that selling in panic is a mistake. A 30 % correction turns out to be normal in A bullish cycle.

Thus, the fall in Bitcoin could be an opportunity for experienced investors. As often in cryptocurrencies, patience and analysis make the difference.