đ¨ $5 MILLION LOSS đ¨
A crypto whale sold Bitcoin (BTC) at a loss this morning.
The Bitcoin price has rebounded thanks to the Fed meeting minutes announced this week and developments in the US presidential election. According to CoinGecko, Bitcoin gained nearly 5 percent in value on a weekly basis, approaching $61,000.
Selling at a loss
According to a post by blockchain analysis platform Lookonchain, a whale bought a total of 855 Bitcoins ($54.6 million) in July at $63,878 each.
The whale sold 297 Bitcoins ($15.8 million) at a loss during the market-wide decline on August 5. The decline, which affected all cryptocurrency prices on this date, caused the Bitcoin price to drop to $49,000.
According to blockchain records, this investor sold 300 Bitcoins ($18.25 million) today, again at a loss. It was reported that the whale, who now has 259 Bitcoins ($15.74 million) left in his wallet, lost $4.8 million from these transactions.
He is not making smart decisions
According to past records, the same person bought 210 Bitcoins ($13.1 million) on February 29 and March 2 for an average of $62,337.
Although he sold them for $65,165 each on March 6, making a profit of $528,000, the Bitcoin price rose to over $73,000 on March 14. The Lookonchain team commented, âThis whale does not seem to be a smart trader.â
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