Mysterious Bitcoin Whale Allocated Almost 5,000 BTC Since Mid-September

Just like all the other major cryptocurrencies, Bitcoin (BTC) has failed to end its bearish recession in early Q4, 2022. However, some whales are sure that dips are for buying.

$500 million whale keeps buying: Analyst

Anonymous Bitcoin (BTC) analyst and investor who goes by @Capital15C on Twitter has shared the statistics of an unusual address on the Bitcoin (BTC) network.

Buy #Bitcoin like this guy ? pic.twitter.com/v3hf1B5a2e

— CC15Capital ?? (@Capital15C) October 8, 2022

Starting Sept. 17, 2022, they have been aggressively purchasing digital gold. Largely, they buy BTC per 100-200 coins. Their net balance has increased from 21,799 BTC to 26,280 BTC.

In less than three weeks, the USD-denominated balance of this wallet eclipsed $500 million. Despite the pale performance of the largest cryptocurrency, two days ago, it reached a local maximum of over $521 million.

As covered by U.Today previously, based on multi-year observations, September is typically the most painful month for Bitcoin (BTC).

«Extreme Fear» dominates on boring market

Commentators of @Capital15C are guessing whether this is a wallet of a super-rich private holder or the storage of some Bitcoin-friendly neobank.

Meanwhile, Bitcoin (BTC) sentiment is still very far from being bullish. Since Sept. 15, 2022, its «Fear and Greed» index remains in the Extreme Fear zone.

As of printing time, Bitcoin (BTC) is changing hands at $19,489 on major spot trading platforms, being less than 0.6% up in the last 24 hours.

Source