Big Bitcoin (BTC) investors are buying heavily from the bottom price in the last price correction, giving hope that the correction may end soon.
Using Glassnode’s data, Morgan Creek Digital Co-Founder Anthony Pompliano concluded that whales holding between 10,000 and 100,000 BTC bought 122,588 BTC last Wednesday, when the crypto markets crashed. The vast majority of traffic on crypto exchanges came from the US, as evidenced by the fact that Coinbase’s BTC premium reached up to $ 3,000 at one point.
The crypto hedge funds that Bloomberg interviewed announced that they also bought at the bottom price. London-based MVPQ Capital and Bytree Asset Management and Singapore-based Three Arrows Capital all bought Bitcoin at the bottom.
Three Arrows Capital Co-Founder Kyle Davies told Bloomberg:
“Borrowers to invest were deleted from the system […] All the major liquidations we’ve seen are a buying opportunity. I wouldn’t be surprised if Bitcoin and Ethereum reversed the entire drop in a week. “
According to Cointelegraph’s report, a whale has collected more than the amount it sold in the last decline after selling at $ 58,000. The whale, which sold 3,000 BTC on May 9, bought a total of 3,521 BTC on May 15, 18 and 19.
Bitcoin, which fell below $ 32,000 on Sunday, is being traded at $ 36,500 as of the time of translation release.