A “smart” crypto whale recently offloaded millions of dollars worth of Bitcoin (BTC) after months of dormancy, according to the digital asset tracker Lookonchain.
Lookonchain notes the whale sold 200 BTC worth $11.6 million earlier this week after not touching its Bitcoin holdings for five months.
[adinserter block="1"]“This whale is very good at buying BTC at low prices and selling at high prices! The whale currently has 2,800 BTC ($164.4 million) left, with a total profit of more than $168 million!”
It is not the only whale unloading BTC: A different address deposited 119 BTC worth $7.14 million to the crypto exchange Binance on Saturday, according to Lookonchain.
The crypto tracker notes the second whale has also been making a profit on the top crypto asset.
“This whale has withdrawn a total of 3,409 BTC ($195.4 million) from Binance at an average price of $57,319 since December 1, 2023. Then deposited 320 BTC ($19.56 million) to Binance at $61,192, with 3,089 BTC ($186 million) left.
His profit on BTC is ~$10.5 million.”
BTC is trading at $60,557 at time of writing. The top-ranked crypto asset is trading even in the past 24 hours but is up more than 5% in the past week. Bitcoin remains nearly 18% down from its all-time high of nearly $74,000, which it set this past March.
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