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The third-largest Bitcoin whale continues to accumulate after adding almost 1000 BTC to its wallet as BTC price dropped by over $5000 in just two days. This is coming after BTC options expired last Friday, which also led to severe panic selling.

Crypto whales are fond of proving that wealth usually moves from the impatient to the patient. Therefore, this trend of accumulation by whales has been on since April. This accumulation only strengthens the idea that crypto will soon start rising again.

On this matter, a Cryptoquant said:

“Note, while it’s possible this is a cold wallet for exchanges like Robinhood, transaction volume and pattern doesn’t seem to support this, very inconsistent from other cold wallets. For one, many strategic buy the dip and sell the rally behaviors and clear long term accumulation trend,”

Taking a close look at this whale’s wallet shows the 11th accumulation purchase in November alone, which has now totaled to almost 115 BTC. The price of the coins acquired falls between $54k and $67k. This recent purchase is also the least accumulation price of the whale this November.

Therefore, the $50k+ range may be the lowest price floor or accumulation point for BTC whales presently, and the price may soon begin to rise since it seems that the overall accumulation trend by long-term holders is coming to an end.

From market analysis, since April, there has been a very strong accumulation strategy by long-term holders, and it began to fall sharply around October. Now, it just flashed a negative, meaning that more whales are now selling than buying down.

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