Based

2024

Bitcoin

Million

Epic

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The price of&nbsp;<a href="https://u.today/heres-when-german-government-might-stop-its-bitcoin-selling-spree" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> has been experiencing a real roller coaster in recent days, with last week's substantial drop of more than 15% leading to even more uncertain swings.&nbsp;
Thus, the major cryptocurrency has experienced a significant fall in recent days, dropping from $64,000 to just under $54,000 in five days. This was followed by attempts by buyers to recoup the decline. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="a6ae2c22-ad7a-4d34-8627-de757ed5fced" src="https://u.today/sites/default/files/inline-images/btc_580.png">BTC to USD by <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
However, despite recapturing the $59,000 mark, it has not been able to hold that price consistently. At the time of writing, Bitcoin is trading at $58,465, which nevertheless represents a 6.5% recovery since the beginning of the week.
In the context of these market fluctuations,&nbsp;<a href="https://x.com/Excellion/status/1811024192005099999" rel="noopener noreferrer nofollow">Samson Mow</a>, a prominent figure in the cryptocurrency industry and proponent of the $1 million BTC, has noticed notable&nbsp;<a href="https://u.today/bitcoin-btc-eyes-major-resistance-amid-market-speculation-details" rel="noopener noreferrer nofollow">Bitcoin</a> whale activity.
<h2 dir="ltr" id="bitfinex-whale-story">Bitfinex whale story</h2>
Mow claims that since mid-June, "whales" on the Bitfinex exchange have purchased nearly 12,000 BTC. Based on current prices, this accumulation represents an investment of about $720 million. Activity of this magnitude may indicate a high level of confidence and demand among large investors.
<blockquote>
 Since mid-June, Finex whales have scooped up almost 12,000 BTC. <a href="https://t.co/luTiXps9VV" rel="noopener noreferrer nofollow">pic.twitter.com/luTiXps9VV</a>— Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1811024192005099999?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 10, 2024</a>
</blockquote>
It is important that this is Bitfinex data, because in addition to being a major cryptocurrency exchange, it is one of the oldest, having been operating on the market since 2012. Activity on Bitfinex is closely monitored by experts, as large amounts of&nbsp;<a href="https://u.today/rich-dad-poor-dad-author-shares-success-secret-amid-bitcoin-turbulence" rel="noopener noreferrer nofollow">BTC</a> often appear there, influencing overall market trends.
In addition, Bitfinex was one of the first professional platforms built for cryptocurrency trading, which means that many old-timer whales who have experienced a lot in crypto reside here, and their activity can say a lot about the mood of the most influential market participants.

'$1 Million BTC' Samson Mow Delivers Epic Bitcoin Whale Stat

Table of Contents

U_Today

Other articles published on Jul 10, 2024

XRP Mirrors its 2017 Consolidation and Breakout Pattern, New ATH Soon?

Centralized Exchanges Hit Hard as Crypto Theft Nears $1.4 Billion in 2024, Cyvers Report Reveals

Dogecoin Price Analysis: DOGE Price Eyes $0.2 As Key Indicators Trigger Buy Signal

Terra Classic Staking Nears ATH As Dev Reveals Update, LUNC OI Jumps 20%

More high-profile token unlocks are happening this July

July 2024’s Top Blockchain Initiatives

Join our free newsletter for daily crypto updates!