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🐋 Bitcoin Whale 'Spoofy' Accumulates $344M in BTC Amid Price Dip 💰
A prominent Bitcoin whale, known as "Spoofy," has recently acquired over $340 million worth of Bitcoin $BTC on the Bitfinex exchange as the cryptocurrency's price dipped below $90,000. On February 27, community reports indicated that Spoofy accumulated 4,000 BTC while the asset traded between $82,000 and $85,000, bringing the total position to approximately $344 million at current prices.
Historically, Spoofy has been recognized for influencing Bitcoin markets. In 2017, the trader faced allegations of market manipulation through "spoofing," a practice involving placing large orders with the intent to cancel them before execution. During significant market downturns, such as the Luna and FTX collapses in 2022, Spoofy capitalized on lower prices, acquiring substantial BTC holdings and later selling them during market rebounds.
As of now, Bitcoin $BTC is trading at $86,533, reflecting a decrease of 1.84% from the previous close.
💡 What impact do you think large-scale traders like Spoofy have on Bitcoin's market dynamics?
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Source: Cointelegraph
A prominent Bitcoin whale, known as "Spoofy," has recently acquired over $340 million worth of Bitcoin $BTC on the Bitfinex exchange as the cryptocurrency's price dipped below $90,000. On February 27, community reports indicated that Spoofy accumulated 4,000 BTC while the asset traded between $82,000 and $85,000, bringing the total position to approximately $344 million at current prices.
Historically, Spoofy has been recognized for influencing Bitcoin markets. In 2017, the trader faced allegations of market manipulation through "spoofing," a practice involving placing large orders with the intent to cancel them before execution. During significant market downturns, such as the Luna and FTX collapses in 2022, Spoofy capitalized on lower prices, acquiring substantial BTC holdings and later selling them during market rebounds.
As of now, Bitcoin $BTC is trading at $86,533, reflecting a decrease of 1.84% from the previous close.
💡 What impact do you think large-scale traders like Spoofy have on Bitcoin's market dynamics?
🔥 Follow @Future Crypto Feed for the latest stock & crypto news, trade signals & market insights! 🔥
Source: Cointelegraph
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