Report said that the third-largest Bitcoin (BTC) whale appears to be back after the new year holidays, and they have just completed the first sizable purchase of 2022.
It has been reported that on Tuesday, the third-largest Bitcoin address added 456 BTC at an average price of $46,363, equivalent to around $21 million. As of January 4, the whale holds 120,845.57 BTC worth over $5.6 billion. The holder’s identity remains a mystery, but it appears that the entity is making full use of the current price volatility.
However, Bitcoin’s has dropped 1.7% in the last 48 hours and 8.9% over the last week, currently trading at around $46,603. Meanwhile, the bearish factors weighing on the cryptocurrency market at the end of 2021 have persisted throughout the first week of 2022 after Bitcoin’s price fell below $47,000 on Saturday while continuing to face strong headwinds on shorter timeframes charts.
Thus, despite the short-term difficulties for Bitcoin, many investors remain enthusiastic. Analyst and pseudonymous Twitter user GalaxyBTC recently shared this chart showing a potential breakout in the first quarter of 2022.