Bitcoin Whale Spoofy Accumulates $340 Million in BTC as Prices Drop Below $90,000

On February 27th, COINOTAG reported significant activity in the Bitcoin market as a notable whale acquired over $340 million worth of Bitcoin on the Bitfinex exchange. This acquisition occurred as Bitcoin prices dipped below $90,000, with the whale reportedly accumulating 4,000 BTC during a trading range of $82,000 to $85,000. This transaction, valued at approximately $344 million, highlights the ongoing volatility and trading strategies within the cryptocurrency landscape. Industry analyst Saint Pump identified this whale as Spoofy, a prominent figure with a history of significant market interactions. Spoofy’s reputation is marred by past allegations of market manipulation, particularly during the infamous 2017 trading surge, where large, speculative orders were placed and subsequently canceled in a practice known as “spoofing.” With an impressive history of accumulating BTC, Spoofy had built a position of 24,000 BTC in 2024, capitalizing on market movements influenced by policy shifts.