Top BTC Whale Spends $90M Worth of BTC Amid Market Fall

Despite the global market plummeting downwards, a Bitcoin whale spent $90,000,000 worth of BTC. This rich whale splashed millions in less than a month when all the cryptocurrencies including BTC were in a bearish state.

In detail, this wallet stands third among the top Bitcoin holders and purchased nearly 3,015 BTC in the past three weeks. However, at the beginning of May, the top richest non-exchange BTC wallet had 124,052 BTC. Later on, it bought more BTCs holding a number of 127,067 coins in the past three weeks.

Significantly, the BTC whale sold the coins only once in May, which is a batch of 1,500 BTC. This hoard of BTCs is worth approximately $90.6million, considering the time of writing.

As revealed by IntoTheBlock, a crypto analytics platform, many whales added Bitcoin to their wallets, in spite of the crypto sell-off. Also, the platform reports that 51% of BTC holders are in profit, whereas 46% of the holders are in a loss.

IntoTheBlock’s post reads: “BTC has remained resilient to the current market conditions as it has been able to maintain above $30,000, demonstrating that there’s still buying pressure. More specifically, addresses holding between 1,000 – 10,000 BTC increased their positions since May 8 from 5.185 million BTC to 5.202 million BTC.”

While looking at the current price, BTC hovers at $28,000, with a drop of 3.2% in the past 24 hours. After the market fall, BTC signaled green on May 13, which continued for three days. However, after that period, BTC has slightly moved down.