Whales' activity is frequently interpreted as an interesting indicator for Bitcoin (BTC) price performance. However, some large-scale holders are passionate advocates of DCA strategy, new analysis says.
"Regardless of price"
As per the screenshot shared by @Capital15C on Twitter, there is an account on the Bitcoin (BTC) network that pours around $1,000,000 in digital gold every day with no regard to its price fluctuations.
The screenshot covers the period from Feb. 22, 2022, to the present time. At the start of this period, the account held 8,652 Bitcoins (BTC) while, on April 7, 2022, it allocated over 9,779 Bitcoins (BTC).
Thus, he/she purchased Bitcoins (BTC) in a wide price range: from $35,000 to $47,000. It seems that his/her confidence is becoming even stronger: in recent days, "daily" investments spiked over $1.2 million.
The dollar-denominated valuation of assets held by the mentioned account increased from $326 million to $426 million; this is equal to a 30.67% increase.
Whales are buying again?
Also, the same analyst spotted a super-aggressive whale that increased its bags tenfold since early March 2022. By purchasing 500-1000 Bitcoins (BTC) daily, he/she increased his/her riches from $36 million to $434 million.
The commentators, however, admitted that this might be an intermediary—not a passionate holder confident that the next phase of the Bitcoin (BTC) rally is coming.
As covered by U.Today previously, in mid-March 2022, Bitcoin (BTC) whales were at a crossroads: the trend on buying or selling was not clear.
In recent days, amid a Bitcoin (BTC) price drop, several wallets of Satoshi-era whales moved their coins, which is an alarming signal for Bitcoin (BTC) bulls.