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Bitcoin’s price has been trapped within a tight range after its drop from $70,000. However, this prolonged market downturn has failed to deter investors from stacking up the world’s largest digital asset.On June 20th, Lookonchain flagged a smart whale who bought 6,070 BTC for a whopping $395 million during the market drop.approximately 41,000 BTC, valued at $794 million, during the 2022 bear market at an average price of around $19,000 per BTC. They sold 37,000 BTC for $1.
This entity has demonstrated remarkable intelligence in BTC trading, with most sales occurring at high price points, as observed by Lookonchain. The latest purchase represents the whale’s first acquisition of BTC in 1.5 years. Bitcoin has been under tremendous pressure in recent weeks and is currently trading near $65,400. The cryptocurrency has been trading sideways without significant volatility, aside from the US CPI and FOMC-induced fluctuations, over the past two weeks owing to certain wallet holders decreasing their holdings since bitcoin traded over $70,000.compiled by CryptoQuant. In fact, large bitcoin holders have been found to have sold more than $1.
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