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.
[adinserter block="1"]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.
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