• Wed. Jul 17th, 2024

Whales Are Rising from the Deep Sea to Hunt for more Bitcoin during the Dip

Christian Klausen

ByChristian Klausen

Apr 27, 2021

The first thing that happens when Bitcoin dives is that more investors rush in to purchase as much BTC as possible. It seems that Bitcoin has found a new support position at $49,500. The market seems to be going towards a bearish trend. However, crypto whales have other plans. One important sign in the market about a possible big whale move is that a huge amount of USDT has been added to crypto exchanges.

Lex Moskovski, CIO of Moskovski Capital, has shared some eye-popping data from Glassnode charts. The chart shows a sudden spike in Tether USD in several crypto exchanges. This is the second time that such a monumental amount of USDT has been added to exchanges. The aggregate count of stablecoins added is 2.37 billion. This second-largest crypto allowance indicates that a whale is going to add a massive installment of Bitcoin to its holdings.

 Tesla CEO Elon Musk Says that he would HODL some Crypto in Future

Earlier this month, Tesla CEO-Elon Musk tweeted a mysterious tweet about HODLing some more crypto reserves. The tweet did not mention the name of any specific altcoin thus far. However, the followers of the billionaire crypto enthusiast seem to think that the selection must be between two major crypto contenders, Bitcoin or Dogecoin

The electric car producer first popularized Bitcoin by buying in a massive amount of the flagship crypto. Later on, his interest turned towards Dogecoin. After a slew of tweets from his account, many investors started to take a serious interest in the meme crypto. In February this year, another massive USDT of about 3.5 billion coins were incorporated into the crypto exchanges before Tesla buying in $1.5 billion worth of Bitcoin. 

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John McAfee, the creator of the McAfee anti-virus, was sentenced to prison with his bodyguard Jimmy Gale Watson Jr., in March 2021. Both of them were indicted by the US Department of Justice for fraud and money-laundering allegations. These charges arose from the cryptocurrency trade schemes. It seems that McAfee and his accomplice were involved in artificially inflating different altcoin prices. 

His wife Janice McAfee tweeted that when he was told about the recent price of Dogecoin, he was surprised. However, he is also facing charges by SEC and for concealing about $23 million, which was made from boasting and manipulating the prices of seven altcoins in the markets. McAfee tricked his large Twitter following by telling them that he is not personally invested in the coins. 

Christian Klausen

Christian Klausen

Christian Klausen is a talented news writer renowned for his compelling storytelling and comprehensive research. With a sharp eye for detail, his articles offer readers a thought-provoking and well-informed perspective on a wide range of current topics.

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