A Bitcoin (BTC) whale was spotted recording massive profits in an expert-level series of trades, on-chain data shows.
As reported by blockchain tracking firm Lookonchain, a Bitcoin address beginning with 37BnFf began a series of swing trades starting in late 2022, buying aggressively throughout this year and selling only in April and early December.
After the latest round of profit taking, Lookonchain says the whale sent $62.9 million to crypto exchange Binance.
“This smart whale is very good at buying BTC at price lows and selling at highs.
He/she deposited 1,449 BTC ($62.9 million) to Binance 50 minutes ago and has 1,455 BTC ($63.16 million) left, with a total profit of ~$65 million.
The last time he/she dumped BTC was on Apr 16, at its price peak.”
Lookonchain spotted another Bitcoin whale with a similar strategy of buying BTC dips and only selling at a few opportune times this year. After $23 million in profits, the massive Bitcoin whale deposited over $132 million worth of BTC into Binance, the firm says.
“A smart whale deposited 3,000 BTC ($132.7 million) to Binance today, making ~$23 million.
This whale has traded BTC 3 times in the past year, he/she bought BTC at price lows and sold at highs each time.
The total profit is ~$61 million and the win rate is 100%.”
At time of writing, Bitcoin is trading at $43,823.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/80’s Child