Bitfinex Whale Accumulates 300 Bitcoins Daily Amid Market Decline
The crypto market is down, with Bitcoin falling below $113K and losing over 21% in trading volume in the last 24 hours. The Fear and Greed Index shows a neutral sentiment.
Despite the downturn, a Bitfinex whale has begun purchasing 300 Bitcoins daily. This follows a previous acquisition rate of 1,000 per day noted by Blockstream CEO Adam Back.
Eric Trump has also advocated for 'buying the dip' while Bitcoin trades around $112,724. His confidence is linked to an upcoming merger that could significantly increase his Bitcoin holdings.
The merger between American Bitcoin Corp. and Gryphon Digital Mining awaits stockholder approval on August 27, 2025. It may position Eric Trump as a leading figure in the crypto market.
Market pressures stem from the end of Trump's tariff suspension, adding economic uncertainty. However, this uncertainty may ultimately benefit the crypto sector.
As Bitcoin begins to recover, utility-based tokens like Snorter Token ($SNORT) may attract investor interest.
Key Points
- Bitcoin drops below $113K, with trading volume down 21%
- Bitfinex whale purchases 300 Bitcoin daily
- Eric Trump supports 'buying the dip' amidst market decline
- Merger could significantly increase Trump's Bitcoin stake
- Economic uncertainty persists post-tariff suspension
- Potential recovery may favor utility-driven projects
Bitcoin's recent rise above $114K indicates possible market recovery, but sustained growth remains uncertain.