Hold onto your hats, crypto enthusiasts, because the whale watchers are back in action, and they've been on quite the shopping spree! Let's dive into the thrilling rollercoaster that is the crypto market this week.
Picture this: Bitcoin, the digital heavyweight, attempted a daring leap toward the coveted $100,000 mark not once, but twice over the weekend. Each time, it was met with a dramatic smackdown, sending it tumbling down by over six grand, all the way to $94,400 on Monday and Tuesday. But fear not, Bitcoin found its footing and launched a spectacular comeback, catapulting nearly eight grand in less than a day to a local peak of $102,000. Talk about a comeback kid!
These wild price swings had over 500,000 traders gripping the edge of their seats, leading to a shakeout of those not up for the crypto rollercoaster ride. But for the big players, these dips were like a Black Friday sale. On-chain sleuth Ali pointed out that during this price dip, a whopping 342 wallets holding at least 100 bitcoins sprang into existence. That's some serious whale action!
And the whale excitement didn't stop with Bitcoin. As prices yo-yoed between $104,000 and $90,000, these deep-pocketed investors kept scooping up more BTC. One particularly enthusiastic whale snagged 201 BTC at those high prices. Talk about going big!
But wait, there's more! The whales weren't just eyeing Bitcoin; they had their sights set on other crypto treasures too. XRP, which took a nosedive from over $2.4 to under $2, caught their attention. Over 100 million XRP were gobbled up during the dip, and it's now made a triumphant return above $2.4. A comeback story if we've ever seen one!
And let's not forget about Dogecoin, the granddaddy of meme coins. It too faced the wrath of volatility, dropping from $0.44 to under $0.37 before bouncing back to over $0.4. During this wild ride, DOGE whales scooped up an impressive 210 million DOGE.
So, whether you're watching from the sidelines or riding the crypto wave, remember that the whales are always lurking, ready to dive in and seize the opportunity when the market takes a dip!
