Whale Acquires 119.8 BTC, $216M Bought Since July 18
An on-chain monitoring report from Lookonchain shows the whale address “bc1qgf” purchased an additional 119.8 BTC (about $13.87 million) three hours ago. Since July 18, this whale has accumulated a total of 1,841.2 BTC, spending roughly $216 million at an average price of $117,310 per BTC on FalconX. The sharp increase in BTC holdings by large whales can signal tightening supply and boost market sentiment among traders. Tracking whale activity remains crucial for crypto traders seeking to anticipate price moves and liquidity shifts in the Bitcoin market.
Bullish
Large-scale BTC purchases by a whale address point to continued accumulation and reduced available supply, often preceding bullish price movements. Similar historic whale buying sprees have tightened Bitcoin liquidity and fueled upward momentum. In the short term, heightened whale activity can trigger increased market interest and trading volume. Over the long term, sustained accumulation signals strong buy-side conviction, potentially supporting higher price floors and positive sentiment among crypto traders.