Whales Bought 15,000 Bitcoin in Three Days While MARA Sold $81 Million. Who Has It Right?

Bitcoin whales poured over a billion dollars into the market right after a sharp decline, while one of the biggest mining companies quietly cashed out. Their opposing moves point to very different views on where Bitcoin goes from here.

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In the days after the October 7 decline, Bitcoin whales—those with medium and large wallets—bought about 15,000 Bitcoin (CRYPTO:BTC), worth around $1.24 billion at current prices, according to analyst Ali Martinez. In contrast, on October 9, MARA Holdings (NASDAQ:MARA | MARA Price Prediction), one of the largest publicly traded Bitcoin mining companies, sold 996 BTC, valued at about $81 million, during the same period.

As of October 10, Bitcoin is trading at $82,801, down 2.1% over the week and 34.3% below its all-time high of $126,080. This creates a clear dichotomy: one group bought the dip, while a major miner decided to sell. So which perspective is more accurate for Bitcoin’s future, and is MARA truly making a statement about its price?

Bitcoin Whales Bought 15,000 BTC, but the Wallet Data Has Limits

Martinez’s findings indicate that medium and large wallets accumulated about 15,000 BTC, along with adding over 166,000 Ethereum (CRYPTO:ETH) and around 45 million XRP (CRYPTO:XRP) during the same three days, while smaller wallets continued to sell. Based on today’s prices, these purchases amount to about $1.24 billion in Bitcoin, $414 million in Ether at $2,495, and $63 million in XRP at $1.40.