PANews reported on February 28 that according to Cointelegraph, the well-known Bitcoin whale "Spoofy" increased his holdings of 4,000 bitcoins on the Bitfinex exchange after the BTC price fell below $90,000, currently worth about $344 million.
Analyst Saint Pump pointed out that Spoofy had accumulated 70,000 BTC at a low price during the collapse of FTX and Luna (price range $16,000-$40,000), and then gradually sold it when BTC rose to $40,000-$70,000 from 2023 to 2024. In addition, during 2024, Spoofy established a 24,000 BTC position and partially reduced it when the market rebounded to $70,000-$108,000.
Market data shows that the recent BTC pullback has resulted in over $2.16 billion in floating losses being confirmed, most of which came from recent investors, while long-term holders suffered smaller losses. CryptoQuant founder Ki Young Ju reminded that novice investors often lose money due to panic selling, while historical data shows that a 30% pullback is more common during the Bitcoin bull market.
