A Bitfinex whale is buying Bitcoin faster than it is being mined. | Credit: Gemini.
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Key Takeaways
A large Bitfinex whale has ramped up Bitcoin purchases to roughly 450 BTC per day as prices slipped below $90,000.
That pace of buying effectively matches the entire amount of new Bitcoin mined each day.
The accumulation is pushing back against recent macro-driven price weakness and tightening available supply.
Bitcoin (BTC) has traded in a narrow $85,000–$95,000 range for nearly three months, sapping investor confidence and dimming hopes of a sustained bull run.
Repeated attempts to hold above $90,000 have failed, with rallies toward $95,000 quickly fading.
Yet even as both institutional and retail investors cut exposure, one Bitcoin whale has quietly gone on an aggressive accumulation spree.
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The activity from the Bitfinex whale, first flagged by Blockstream CEO Adam Back on X, shows a steady, deliberate accumulation pattern that effectively absorbs the market’s entire net daily supply of newly mined Bitcoin.
Bitfinex whale ramps up BTC purchases. Credit: Adam Back on X.
At current prices, that pace amounts to roughly $40–41 million worth of BTC per day.
The buying reportedly started closer to 300 BTC daily but accelerated to the full 450 BTC as prices tested the $90,000 level.
This behavior isn’t unusual for the wallet in question. The same entity has a history of accumulating during periods of
In mid-2024, for example, it bought between 300 and 400 BTC per day when prices dipped below $62,000, then gradually sold into later rallies.
During the 2022 bear market, the whale accumulated more than 70,000 BTC between roughly $16,000 and $40,000.
Portions of that position were later sold in 2024 as prices climbed from $70,000 to over $100,000.
In the current cycle, the renewed buying appears less about speculation and more about supporting price during a volatile stretch—at least for now.
The pullback—and Bitcoin’s repeated failure to hold the $90,000 level—has unsettled many retail traders.
At the same time, large holders such as the Bitfinex whale have treated the dip as a buying opportunity, steadily accumulating BTC at lower prices.
The surge in whale buying coincided directly with Bitcoin’s slide below $90,000, as broader pressures weighed on the market.
Those pressures included tariff uncertainty, ETF outflows, and rising geopolitical tensions.
By purchasing roughly the equivalent of daily mining issuance, the whale’s activity has created a localized supply squeeze, offsetting sell-side pressure from miners and helping anchor prices near a key psychological level.
Many analysts see this behavior as a bullish signal, pointing to long-term conviction even as short-term sentiment remains cautious amid macro uncertainty.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
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