<https://topplabs.org/large-holders-bought-bitcoins-for-1-6-billion-in-5-minutes/#newsarticle>
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"The head of the analytical company CryptoQuant Ki Yong Joo explained the sharp rise in the rate of the first cryptocurrency to $ 55.5 thousand. The CEO of the analytical company CryptoQuant Ki Yong Joo said that large holders of the cryptocurrency bought bitcoins for $ 1.6 billion in 5 minutes. According to him, the volume of liquidations of short positions after the growth of the first cryptocurrency to $ 55.5 thousand amounted to only $ 17 million. This is more looks like a big whale buying rather than a cascading short liquidation, Ki Yong Joo noted.  On October 6, the cost of bitcoin for the first time since mid-May exceeded $ 55.5 thousand. At 17:05 Moscow time, the cryptocurrency is trading at $ 53.9, and its capitalization is $ 1 trillion. Over the past day, Bitcoin has risen in price by 7%. In early September, the head of CryptoQuant predicted the growth of bitcoin due to the actions of the &quot;whales&quot;. According to him, then large cryptocurrency holders began to massively transfer bitcoin to derivatives exchanges to open new margin positions."
<https://topplabs.org/large-holders-bought-bitcoins-for-1-6-billion-in-5-minutes/>