Like all the other major cryptocurrencies, Bitcoin failed to end its bearish recession in early Q4, 2022. However, some whales are sure that dips are for buying. Anonymous Bitcoin (BTC) analyst and investor who goes by @Capital15C on Twitter have shared the statistics of an unusual address on the Bitcoin network.
Starting Sept. 17, 2022, they have been aggressively purchasing digital gold. Largely, they buy BTC for 100-200 coins. Their net balance has increased from 21,799 BTC to 26,280 BTC. In less than three weeks, the USD-denominated balance of this wallet eclipsed $500 million. Despite the pale performance of the largest cryptocurrency two days ago, it reached a local maximum of over $521 million.
Based on multi-year observations, September is typically the most painful month for Bitcoin (BTC). “Extreme Fear” dominates on boring market Commentators of @Capital15C are guessing whether this is a wallet of a super-rich private holder or the storage of some Bitcoin-friendly neobank. Meanwhile, Bitcoin sentiment is still very far from bullish. Since Sept. 15, 2022, its “Fear and Greed” index has remained in the Extreme Fear zone.
BTC/USD 4-hour chart | Source: TradingView
As of printing time, Bitcoin is changing hands at $19,499 on major spot trading platforms, less than 0.6% up in the last 24 hours.