Bitcoin News Today: Bitfinex Whale Accumulates 300 BTC Daily Amid Market Volatility

Bitcoin’s on-chain activity has surged with the reappearance of the so-called “Bitfinex whale,” as Blockstream CEO Adam Back highlighted. According to Back, this entity has been accumulating Bitcoin at a significant pace, reportedly purchasing around 300 BTC per day over the past 48 hours using TWAP strategies. He noted that such a rate translates to roughly $400 per second and emphasized that historically, this whale has scaled up buying to as much as 1000 BTC per day [1].

The resumption of this accumulation is being interpreted as a potentially market-moving signal. Whale activity of this magnitude can absorb substantial supply, leading to upward price pressure or market stabilization during periods of volatility. In prior cycles, similar behaviors have coincided with major bullish moves or short-term fluctuations when whales shift strategies or exit positions. However, some observers caution that this might not be unequivocally bullish, pointing out that Bitfinex whales have been known to buy during downtrends and sell during uptrends [1].

Adam Back, a foundational figure in the cryptocurrency space, is a key voice in this discussion. As the inventor of Hashcash and a co-founder of Blockstream, a major player in Bitcoin protocol development, his market insights carry considerable weight among industry participants. His identification of the whale’s return adds credibility to the narrative that major players are once again influencing the market [1].

The broader Bitcoin market has been under pressure recently, with former BitMEX CEO Arthur Hayes warning of a global liquidity crunch and forecasting that Bitcoin could test $100,000 in the near term. With the Bitfinex whale back in the game, traders are now assessing whether this accumulation will signal a turnaround. On-chain data suggests that such large-scale buying typically indicates strong hands preparing for a new price movement or smart money absorbing panic selling during dips [1].

With exchange-based Bitcoin supply already at historic lows and institutional interest rising, sustained accumulation by whales could support both a short-term relief rally and a longer-term tightening of supply, especially if the buying continues over days or weeks. However, it’s important to note that whale behavior is not a guaranteed indicator of a bullish trend. Large holders are known to both defend support levels and take profits when the opportunity arises, making the market’s next move unpredictable [1].

The return of the Bitfinex whale has sparked renewed debate and attention among traders and analysts alike. Whether this signals a new phase in Bitcoin’s price action or is part of a broader consolidation remains to be seen. For now, the market is closely watching for signs of a trend reversal or a breakout.

Source: [1] Bitfinex whale returns: Adam Back sights massive Bitcoin accumulation (https://cryptoslate.com/bitfinex-whale-returns-adam-back-sights-massive-bitcoin-accumulation/)