Buying the Dip: Third-Largest Bitcoin Whale Adds $21M Worth of BTC at $46.3K

It appears that the third-largest bitcoin whale is back after the new year holidays and has just made the very first considerable buy of 2022.

• Data from Bitinfocharts reveals that the third-largest bitcoin address has added 456 BTC at an average price of $46,363 on January 4th.
• The buy is worth roughly around $21 million.
• This is the first considerable buy on behalf of this entity who also bought 6 BTC 55 minutes going into the new year.
• At the time of this writing, the whale holds 120,845.57 BTC worth over $5.6 billion.
• It seems the entity is taking full advantage of the current choppy price action. Bitcoin is down 1.7% in the past 24 hours and 8.9% in the past week as is it currently trades at around $46K.
• This has also caused the BTC dominance – an index tracking its share relative to that of the entire market – to plunge below 40%.

Chart by TradingView