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Bitfinex Whale Returns: Massive Bitcoin Accumulation Sighted by Adam Back
The long-awaited return of the infamous “Bitfinex whale” has finally taken place, with Blockstream CEO and co-founder Adam Back confirming the massive Bitcoin accumulation. The sudden surge in buying power comes after a period of subdued market activity, leaving many wondering whether this significant development could potentially shift the tide for Bitcoin prices.
According to recent data, the mysterious entity has resumed its large-scale buying spree, purchasing approximately 300 BTC per day over the past 48 hours using time-weighted average price (TWAP) strategies. This colossal influx of capital raises crucial questions about the market’s potential trajectory and whether we are witnessing a sign of strength or simply an opportunistic play by this unknown powerhouse.
As one might expect, opinions on this development are sharply divided, with some experts interpreting this accumulation as a bullish signal, while others caution that this move could be part of a larger correction. The implications of such massive buying power cannot be overstated, and we will continue to monitor the situation closely to provide readers with accurate insights.
In related news, it appears that certain sanctioned nations are secretly mining Bitcoin, leaving many wondering what this could portend for the market.
Source: cryptoslate.com
