Benson Sun: Bitfinex Whale Accelerates Accumulation, Believes Current Price Level Is Attractive

BlockBeats News, January 27th. Cryptocurrency influencer and former FTX community partner Benson Sun stated that "Bitfinex whales have recently significantly accelerated their accumulation. They are accumulating approximately 400–600 BTC per day, while the OTC desk has recently injected around $300 million USDT into Bitfinex."

This is Bitfinex's most aggressive round of accumulation since the market bottomed out on November 20th last year. Historically, such rapid accumulation usually implies two things:

· The current market has sufficient selling pressure, allowing for large-scale absorption of assets without causing a significant price impact;

· Funders believe the market has entered a new phase—previously, near $88,000, there was no comparable intensity of accumulation.

Although it is unclear to outsiders which signals these funds specifically observed, what is certain is that they apparently consider accumulating at the current price level to be reasonable and profitable."