Bitcoin, altcoins dip on Iran-Israel tensions

The past week brought a downturn for both Bitcoin and altcoins, possibly triggered by the macroeconomic implications of the escalating tensions between Iran and Israel over the weekend.

As a result, Bitcoin’s value dipped below $60,000, causing concern among investors. However, amid the uncertainty, large Bitcoin holders known as “whales” seized the opportunity to strengthen their positions.

Recent data reveals that whale wallets, holding over 0.1% of the total Bitcoin supply, significantly increased their buying activity during the market dip. On April 18th, these wallets acquired an impressive 19,760 BTC at an average price of $62.5k per Bitcoin.

Bitcoin whales may have finally started buying the dip