Third-largest whale celebrates Bitcoin’s birthday with 456 BTC buy

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It has now been 13 years since the genesis block of the Bitcoin (BTC) blockchain was created, which marked the beginning of the chain. To commemorate the occasion, the third largest Bitcoin whale appears to be back after the New Year’s holidays, and it just completed the first major purchase of 2022.

On January 4, the third largest Bitcoin address added 456 BTC at an average price of $ 46,363, or roughly $ 21 million, according to data from Bitinfocharts. com.

At the time of this writing, the whale holds 120,845.57 BTC worth over $ 5.6 billion. The identity of the holder remains a mystery, but it appears that the entity is taking full advantage of the current price volatility. Bitcoin has fallen 1.7% in the past 24 hours and 8.9% in the past week, currently trading at around $ 46,603.

Related: Happy Birthday Bitcoin! Industry players share a few words

Meanwhile, the bearish factors weighing on the cryptocurrency market at the end of 2021 persisted throughout the first week of 2022 after the price of Bitcoin fell below $ 47,000 on January 1 and ‘It continues to face strong headwinds on shorter-term charts.

Despite the short-term difficulties for Bitcoin, many investors remain enthusiastic. Recent analyst and alias Twitter user GalaxyBTC share this chart showing a potential breakout in the first quarter of 2021.

14-month Bitcoin / Tether price chart. Source: Twitter