CryptoSlate••1 min read
Bitcoin Whale Absorbs Daily Mining Supply as Price Faces $90,000 Friction
According to reports, a Bitfinex whale is purchasing approximately 450 Bitcoin per day, matching the total number of Bitcoins mined daily. This significant demand, around $40.6 million, occurs as Bitcoin struggles to build momentum around the $90,000 level. Data indicates that Bitcoin "whales and sharks" are accumulating despite weak sentiment. Wallets holding between 10 and 10,000 Bitcoin have added 36,322 BTC over nine days, representing a 0.27% increase in their collective holdings. Analytics firm Glassnode suggests Bitcoin remains in a moderate bear phase, with resistance around $98,400.
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