Adam Back Highlights Major BTC Whale Activity on Bitfinex

The crypto market is buzzing after Blockstream CEO Adam Back highlighted the return of a major Bitcoin whale on Bitfinex. In a recent social media post, Back pointed out that this whale—known for past large-scale Bitcoin purchases—is now aggressively accumulating again, buying an estimated 300 BTC per day using a Time-Weighted Average Price (TWAP) strategy. This method spreads large orders evenly over time to avoid slippage and market disruption. At current prices, the whale is deploying around $400 every second, signaling a strong belief in Bitcoin’s long-term value despite recent price dips.

Historically, this Bitfinex whale has played a crucial role during volatile phases, sometimes scaling buys to as much as 1,000 BTC daily. Their renewed presence has caught the attention of analysts and traders, many interpreting it as a signal of “smart money” re-entering the market. While Bitcoin has recently corrected below $113,000—nearly 9% off its July highs—such large-scale accumulation could act as a stabilizing force, soaking up supply and potentially setting the stage for a rebound.

However, market veterans caution that whale behavior can be double-edged. While accumulation may hint at bullish intent, the same wallets can offload during rallies, turning accumulation zones into resistance levels. The move also comes amid broader macro uncertainty, including concerns raised by former BitMEX CEO Arthur Hayes about global liquidity tightening.

Still, the return of this well-known whale has injected optimism into an otherwise cautious market. For long-term holders, it’s a reaffirmation of Bitcoin’s enduring appeal. For traders, it’s a signal worth watching closely. Whether this is the start of a sustained bull phase or just another strategic play remains to be seen—but the whale is definitely back, and the market is paying attention.