Amidst market volatility, a significant Bitcoin (BTC) purchase has been observed. Adam Back noted a Bitfinex whale utilizing a time-weighted average price (TWAP) strategy to steadily accumulate the cryptocurrency. This comes as Bitcoin’s value dipped below $113,000 following a sharp downturn, prompting discussions about buying opportunities.
Significant Bitcoin Purchase Detected: Bitfinex Whale Acquiring 300 BTC Daily
With the broader cryptocurrency market experiencing a decline, Blockstream (BSTR) CEO Adam Back has brought attention to consistent Bitcoin accumulation by a substantial Bitfinex holder. Back highlighted these purchases in a post on X, X post emphasizing the entity’s recent activity over the past two days.
According to Back, this Bitfinex whale is purchasing approximately 300 BTC each day. This accumulation relies on a Time-Weighted Average Price (TWAP) strategy, suggesting the whale evenly distributes buy orders. Back’s analysis implies the entity may be allocating around $400 per second to Bitcoin acquisitions.
the @bitfinex whale is back last 48hrs, TWAP buying bitcoin all-day looks like 300 btc/day for now.https://t.co/Jp1fiKesKv pic.twitter.com/7CP4RdOPoE
— Adam Back (@adam3us) August 2, 2025
Back identified this trend through the BTCUSDLONGS metric, which tracks margin long positions on Bitfinex. A steady increase in open long positions supports the notion of TWAP accumulation, with the whale seemingly using BTC as collateral for these positions.
Earlier in February, Back noted this Bitfinex whale was aggressively buying 1,000 BTC per day, executing frequent purchases to capitalize on market dips. This latest accumulation occurs alongside public figures like Eric Trump suggesting investors “buy the dip” for both Bitcoin and Ethereum.
Cryptocurrency Market Faces Significant Weekend Price Declines
This large Bitcoin purchase by the Bitfinex whale coincides with a widespread price correction across the cryptocurrency landscape. Bitcoin, the largest cryptocurrency by market capitalization, experienced a significant drop, falling to $112,012.
Data from CoinMarketCap shows Bitcoin has decreased by 8.97% from its all-time high of $123,091 reached in mid-July. Furthermore, daily trading volumes have decreased by 31.52% in the last 24 hours, reflecting a negative market sentiment.
Alternative cryptocurrencies (altcoins) have also seen losses, with Ethereum (ETH), XRP, and Solana (SOL) all decreasing by more than 4% within the past day. Reports suggesting major holders like Arthur Hayes selling off cryptocurrency holdings may have contributed to the downturn, while the Bitfinex whale and individuals like Eric Trump view the current market conditions as potential buying opportunities.
A report suggests this recent market downturn is due to several macroeconomic factors, compounded by the potential impact of Trump’s proposed tariffs. Furthermore, disappointing US job data from July has raised concerns about the overall health of the US economy, especially as markets react to the Federal Reserve’s decision to hold off on interest rate cuts.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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