On January 19, on-chain data revealed that a well-known whale address (0x50b3…) made a bold move, acquiring 6.09 BTC for approximately $523,600. This strategic buy-in is seen as a classic averaging-down tactic—accumulating assets during downturns to reduce overall entry costs, signaling strong conviction amid market uncertainty.
Lowering Entry Point Amid Volatility
Following this purchase, the whale’s average entry price for its long position dropped from $95,504.10 to $95,014.10. Despite Bitcoin’s sharp corrections, the total value of the position now stands at around $1.92 million, highlighting exceptional financial resilience and long-term confidence.
Holding Firm Despite Over 50% Unrealized Loss
Remarkably, the position remains deeply underwater, with an unrealized loss of $48,600—equivalent to a 50.59% drawdown. Yet, the continued accumulation suggests the investor anticipates a strong recovery, potentially viewing current prices as a strategic entry window.
- Amount Purchased: 6.09 BTC
- Value: ~$523,600
- New Average Price: $95,014.10
- Total Position Value: ~$1.92M
- Unrealized Loss: $48,600 (-50.59%)
This move underscores how major players navigate bearish phases—not by exiting, but by building positions. It serves as a powerful sentiment indicator for retail and institutional investors alike.