{"id":27824,"date":"2024-12-12T06:48:49","date_gmt":"2024-12-12T06:48:49","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27824"},"modified":"2024-12-12T06:48:49","modified_gmt":"2024-12-12T06:48:49","slug":"heres-what-btc-doge-xrp-whales-did-during-the-market-correction","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27824","title":{"rendered":"Here\u2019s What BTC, DOGE, XRP Whales Did During The Market Correction"},"content":{"rendered":"

TL:DR;<\/strong><\/p>\n

The entire cryptocurrency market experienced sharp declines in the past few days before prices recovered, with BTC jumping above $100,000 once again.
\nOn-chain data shows that whales holding some of the biggest and most popular crypto assets used this opportunity to stack up.<\/p>\n

<\/a><\/p>\n

BTC Whales Buying<\/h2>\n

Recall the price events that transpired since the start of the week. Bitcoin tried its hand at taking down $100,000 on a couple of occasions during the weekend, but each was met with a severe correction that pushed it south hard. In fact, the largest cryptocurrency dumped<\/a> by over six grand twice and slipped to $94,400 on Monday and Tuesday, where it actually found the necessary support.<\/p>\n

It bounced off<\/a> yesterday in a quite impressive fashion, gaining almost eight grand in less than a day from its aforementioned bottom to $102,000 (local peak on Bitstamp).<\/p>\n

These violent price swings liquidated<\/a> over 500,000 over-leveraged traders at one point and they usually tend to push the so-called \u2018weak hands\u2019 out of the market. However, those with stronger convictions, usually larger investors, use these corrections to accumulate more of the asset.<\/p>\n

This was the BTC case, according to on-chain data shared by popular analyst Ali, who noted that 342 big wallets (containing at least 100 bitcoins) were created during this retracement.<\/p>\n

#Bitcoin<\/a> whales are buying every dip! In fact, 342 wallets with over 100 $BTC<\/a> were created as prices dropped from $104,000 to $90,000. pic.twitter.com\/cMJRnshOAt<\/a><\/p>\n

\u2014 Ali (@ali_charts) December 11, 2024<\/a><\/p>\n\n

Lookonchain said<\/a> that even when BTC spiked above $100,000 once again, whales continued to accumulate, with a single one buying 201 BTC at such high prices.<\/p>\n

XRP and DOGE, Too<\/h2>\n

But it\u2019s not just bitcoin. It seems wealthy investors are highly bullish on other cryptocurrencies as well, such as Dogecoin (DOGE) and Ripple (XRP).<\/p>\n

Further data shows that whales bought over 100 million XRP during the asset\u2019s crash, from over $2.4 to under $2. It was one of the poorest performers<\/a> at one point during the market-wide corrections, but it managed to erase all losses and is back above $2.4 as of now.<\/p>\n

In the recent dip, whales bought over 100 million $XRP<\/a>! pic.twitter.com\/xU2YscIkvj<\/a><\/p>\n

\u2014 Ali (@ali_charts) December 11, 2024<\/a><\/p>\n\n

Being the largest and oldest rep of the ever-volatile meme coin sector, DOGE was not spared<\/a> from the volatility either. Its price slumped from $0.44 to under $0.37 before it bounced back to well above $0.4. During this crisis, DOGE whales accumulated 210 million of the asset.<\/p>\n

#Dogecoin<\/a> whales bought 210 million $DOGE<\/a> during the recent price correction! pic.twitter.com\/0vG2iN1fvJ<\/a><\/p>\n

\u2014 Ali (@ali_charts) December 11, 2024<\/a><\/p>\n\n

The post Here\u2019s What BTC, DOGE, XRP Whales Did During The Market Correction<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL:DR; The entire cryptocurrency market experienced sharp declines in the past few days before prices recovered, with BTC jumping above $100,000 once again. On-chain data shows that whales holding some of the biggest and most popular crypto assets used this opportunity to stack up. BTC Whales Buying Recall the price events that transpired since the […]<\/p>\n","protected":false},"author":0,"featured_media":27825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27824"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27824"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27825"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}