The Whale That Saw the Bitcoin Rise as an Opportunity Started a Massive Sale 1 Year Later
The whale that saw the Bitcoin rise as an opportunity started selling millions of dollars through Binance.
According to the data provided by the on-chain analysis platform Lookonchain, a cryptocurrency whale took action for Bitcoin on August 25.
According to the data, the whale in question took advantage of the Bitcoin price rising above $63,000 and transferred 590 BTC worth $38 million to the cryptocurrency exchange Binance.
The same whale had bought 590 BTC worth $22.7 million through Binance on October 20, 2023, February 21 and April 16, 2024. The average purchase price was recorded as $38,472.
The whale earned approximately $16 million thanks to its Bitcoin investment that has been ongoing for over a year.
The dovish rhetoric from the US Federal Reserve (FED) and Donald Trump's biggest support of the year had pushed the Bitcoin price to $64,000 last week.
According to CoinGecko data, Bitcoin, which has increased by 1% in the last 24 hours, is trading at $61,000 at the time of writing.
Important Note: Friends, Binance has started a reward event worth 50,000$ . You can benefit from the reward by clicking on the Artificial Intelligence AI account and scoring from the "Vote" option.
The event ends on August 29. You can benefit from rewards worth 50,000$ by voting every day until August 29.
