It’s now been 13 years since the genesis block of the Bitcoin blockchain was created. To commemorate the occasion, the third-largest Bitcoin (BTC) whale appears to be back after the new year holidays, and they have just completed the first sizable purchase of 2022.
On Tuesday, the third-largest Bitcoin address added 456 BTC at an average price of $46,363, equivalent to around $21 million, according to data from BitInfoCharts.
At the time of this writing, the whale holds 120,845.57 BTC worth over $5.6 billion. The holder’s identity remains a mystery, but it appears that the entity is making full use of the current price volatility. Bitcoin’s has dropped 1.7% in the last 24 hours and 8.9% over the last week, currently trading at around $46,603.
Meanwhile, the bearish factors weighing on the cryptocurrency market at the end of 2021 have persisted throughout the first week of 2022 after Bitcoin’s price fell below $47,000 on Saturday while continuing to face strong headwinds on shorter timeframes charts.
Despite the short-term difficulties for Bitcoin, many investors remain enthusiastic. Analyst and pseudonymous Twitter user GalaxyBTC recently shared this chart showing a potential breakout in the first quarter of 2022.