16th largest Bitcoin whale buys 48k BTC before correction with $500M in unrealized losses

At a 20% drop to its peak, Bitcoin is presently consolidating around the high $50,000s. The Fear and Greed Index, which is currently at 28, is a reflection of the recent 28% correction that the market underwent, which brought it down to slightly below $54,000. During this time, at the height of the market, a well-known whale account—which is currently the 16th largest Bitcoin holder—purchased an astounding 48,429 BTC.