• Bitfinex whale uses TWAP to buy 300 BTC daily amid crash, spending $400 per second without shaking the market.
• BTCUSDLONGS surge confirms whale is opening leveraged longs using Bitcoin as margin, signaling high confidence.
• Despite a 9% BTC drop, the whale’s buying echoes past behavior, hinting at long-term strategy and possible rebound.

A Bitfinex whale has been on a buying spree of Bitcoin during the current slide in the market and has secretly ended up with a good amount of the asset. Blockstream CEO Adam Back got the attention of this activity, whereby the whale is employing a TWAP (Time-Weighted Average Price) to buy about 300 BTC every day. Although Bitcoin has significantly dropped below the 113,000 mark, Bitcoin does not seem to panic but rather sees an opportunity.

In a post on X, Adam Back fessed up to the activity that showed a pattern of constant Bitcoin purchases in the past 48 hours. He estimates the whale is buying between 38-39 BTC a second in order to buy the stock at minimal risk, as opposed to one big purchase. This TWAP strategy enables a position to be built inconspicuously with less market impact and no exposure.

Bitcoin (BTC) Whale Returns to Buy Mode

The whale’s activity was detected with the help of the BTCUSDLONGS metric that measures the amount of the long position in the margin on the Bitfinex exchange. This number has gradually been increasing, which implies the whale is entering leveraged longs that could be collateralized in Bitcoin itself. 

Source: TradingView

This is not the first time Adam Back has noted this buying pattern of this whale. As mentioned previously, in February, he indicated the same behavior by purchasing up to 1,000 BTC. During that period, the whale was very consistent with its purchasing rate, and a similar form is retaking shape, showing a much more considered, long-term outlook.

Also Read:  Bitcoin as Treasury: Eric Semler Shares Vision for Institutional Growth

In the recent past, Bitcoin logged a considerable decrease as the cryptocurrency dropped to $112,012 following a high of $123,091 in July. This decline, which amounted to almost 9 percent, as calculated by CoinMarketCap, has shaken up the market sentiment. Also, the volume of the trades has dived more than 31%, which means a significant decline in the participation of the retail and institutional traders.

Altcoins Drop as Whales Exit

The other cryptocurrencies have also been affected by the downturn. The tokens such as Ethereum, XRP, and Solana are some of the top ones that have fallen by over four percent in the last 24 hours. 

Additional bearish sentiment includes the reports of big owners like the former BitMEX CEO Arthur Hayes selling a part of their crypto assets. Not everyone who is in the market feels that the correction is a good buying opportunity—but the contraction in the market does not deter those who do.

Eric Trump has also entered the debate and urged investors to take the dip in both Bitcoin and Ether. His remarks have a ring of truth to them, as some market observers believe that the correction is a buying opportunity that some have never seen. 

The bull whale plays a perfect opposite to the rest of the market, which was driven by panic selling. When others sell, this entity continues to buy, and it is in such a way that such buying may form the seed of a recovery when some other mood sets in. As the market searches for a bottom, whale moves may offer the best clues. In the storm, the silent buyer swims confidently forward.

Also Read: XRP Price Slips Below Support as Whales Dump 720 Million Tokens