Lookonchain reported that 40 newly created wallets withdrew 9,458 BTC, valued at $771.5 million, from Wintermute since Oct. 1. The figures document transfers to new addresses without identifying the recipients or their purchase prices. Separate Oct. 24 posts cited a larger inflow and a technical buying signal.
Bitcoin whale accumulation claims have gained traction after Lookonchain reported that 40 newly created wallets withdrew 9,458 BTC, valued at $771.5 million, from Wintermute since Oct. 1.
Lookonchain described the movements as whale accumulation, but the reported figures document transfers to new addresses without identifying the recipients or establishing their purchase prices. In an Oct. 24 post, market commentator Ash Crypto put the month's accumulation at $780 million.
The implied price is not a purchase price
At Lookonchain's reported valuation, the 9,458 BTC were worth approximately $81,571 per coin. That figure is an implied valuation rather than a confirmed average purchase price.
Ash Crypto's $780 million estimate sits $8.5 million above the tracker's valuation, a difference of roughly 1.1%. His post did not explain the gap.
Lookonchain's count refers to newly created wallets, so the number of investors behind the addresses remains unresolved. The withdrawals do not establish whether the recipients are separate buyers or multiple wallets controlled by the same entity.
A larger inflow draws caution
Market commentator Lucky cited 32,380 BTC, worth around $2.6 billion, entering the market in one day and described it as the largest inflow since April. However, the Coinglass chart in his post did not provide its complete wallet-selection methodology or identify the counterparties behind the transfers.
Because the observations cover different periods and wallet groups, subtracting one from the other would not establish net whale demand.
Support-band call stays conditional
Crypto Rover told followers to buy Bitcoin when it touches its bull market support band in a third Oct. 24 post. His chart showed Bitcoin above a shaded moving-average band, but the post did not specify the band's current numerical value, an invalidation level or a verified performance record for the strategy.
Source: crypto.news
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