Whales Are Accumulating 15,000 BTC as Bitcoin Price Continues to Plummet

While Bitcoin price continues to plummet, whales are seizing the opportunity to accumulate 15,000 BTC as the Fear & Greed Index drops to an extreme low of 10.

Despite Bitcoin (BTC) price continuing to plummet and the Fear & Greed Index dropping to an extreme low of 10, whales are massively accumulating 15,000 BTC.

As reported by IntoTheBlock, large Bitcoin holders, defined as wallets holding at least 0.1% of the cryptocurrency’s circulating supply, have been busy adding to their positions.

Over the past few weeks, these so-called whales have increased their collective balance by nearly 15,000 BTC at prices below the $90,000 level. This equates to approximately $1.28 billion in new acquisitions.

The largest Bitcoin holders are buying the dip!

Wallets holding at least 0.1% of the circulating supply added nearly 15k BTC to their collective balance below $90k, worth approximately $1.28 Billion 🐳pic.twitter.com/DsExI06uXO

— IntoTheBlock (@intotheblock) February 27, 2025

However, this massive acquisition comes amid Bitcoin’s price dropping 12% over the past few days, deepening concerns among crypto investors.

As the cryptocurrency slid below the $83,000 level, many expressed worries about a potential bear market, especially considering the gloomy outlook from the World Bank.

Moreover, the crypto market’s Fear & Greed Index currently stands at 10 out of 100, signaling Extreme Fear, the lowest level recorded since November 2022.

Key Figures Weigh in on Market Movements

In a post on X, Eric Trump, son of U.S. President Donald Trump, commented on the crypto market downturn, urging investors to “Buy the dips.” His statement quickly gained attention among Bitcoin supporters who see corrections as buying opportunities.

“The greatest time to buy anything is when everyone else is selling in panic. They'll miss out on the next leg up. Same in crypto, buy the dips!” Eric Trump wrote.

Meanwhile, Michael Saylor, Executive Chairman of Strategy at software company MicroStrategy, described the Bitcoin price drop as a “flash sale” opportunity.

Saylor also responded to Eric Trump’s remarks, highlighting the importance of market volatility in long-term investment strategies. “Volatility is a gift to the faithful,” he added.

Analysts Assess Bitcoin’s Market Cycle

Ki Young Ju, CEO of blockchain data firm CryptoQuant, addressed concerns over the ongoing market downturn. According to him, it is “way too early to panic.”

He noted that 30% corrections are common in Bitcoin bull market cycles, referencing the 2021 cycle when Bitcoin dropped by 53% before reaching a new all-time high.

suggest that Bitcoin would only confirm entry into a bear market if it falls below the estimated miner cost basis of $57,000, as calculated on February 19.