A major Bitcoin whale tied to Bitfinex is quietly scooping up hundreds of BTC each day, even as the broader crypto market reels from a sharp downturn.
The approach spreads purchases evenly over time, reducing market impact. Back estimated the entity could be committing roughly $400 per second to Bitcoin buys, with on-chain metrics like BTCUSDLONGS confirming a steady rise in long positions backed by BTC collateral. The activity mirrors February’s aggressive run, when the same whale was accumulating up to 1,000 BTC per day.
This latest accumulation streak comes amid a turbulent week for crypto. Bitcoin has plunged to $112,012, nearly 9% below its mid-July record high of $123,091, with daily volumes down over 31%. Altcoins haven’t escaped the damage — Ethereum, XRP, and Solana each shed more than 4% in the past 24 hours.
The market slump has been tied to macroeconomic pressure, including fresh Trump tariffs and disappointing U.S. job numbers, alongside the Federal Reserve’s decision to hold rates steady. While some whales, like Arthur Hayes, have been offloading assets, others — including the Bitfinex buyer and Eric Trump — see the pullback as a prime buying opportunity.
