The crypto market's been a bit of a rollercoaster lately. Bitcoin ETFs saw their biggest outflow in two months on Monday. It was rough, but there is one small group of players who may be actually enjoying the ride. The crypto whales. They are buying the dip. And not only Bitcoin, there is another coin that gains momentum right now thanks to the whales' attention.
This sell-off pushed Bitcoin below $56,000 early Wednesday. But it didn't stay down for long.
By midday, Bitcoin had bounced back above $58,000. Why? Whale watching might give us a clue.
On-chain sleuth Lookonchain spotted a wallet scooping up 545 BTC on Wednesday. That's no small fry.
This same wallet's been on a buying spree. It's nabbed 862 BTC in just three days.
Another big player's been making moves too. Dubbed "Mr 100" by crypto Twitter, this wallet's been steadily accumulating.
It now holds a whopping 72,726 BTC. Some reckon it might be an exchange. Who knows?
Despite the dip, some experts reckon Bitcoin could be gearing up for a comeback. The $70,000 mark isn't out of reach.
The Fed's about to start cutting rates. And Trump, a crypto fan, is leading the polls for November. It's all looking pretty bullish.
But here's the kicker – while Bitcoin might double, there's a new kid on the block. Pepe Unchained, a meme coin, is turning heads.
It's raised nearly $12 million in its presale. That's no joke.
Chester, Cryptonews.com's in-house analyst, reckons it's one to watch, he's got a video breaking it all down.
So, what's the takeaway? The crypto market's as unpredictable as ever. But one thing's for sure – the whales aren't sitting this one out.