- Bitcoin Whale, Which Hasn't Traded for a Year, Earned $6.89 Million -
7 wallets that have been inactive for the last year and most likely belong to the same whale, deposited 203 BTC ($12.18 million) to Binance 6 hours ago.
This move earned the whale $6.89 million. According to Lookonchain's data, this whale bought 203 BTC for a total of $5.29 million at $26,047 between March 10 and August 7, 2023.
They took action when the Bitcoin price rose
Bitcoin's price increased by 3.4 percent in the last 24 hours and rose above $60,000 again. This rise allowed large investors to profitably dispose of the BTCs they bought in recent months. Bitcoin's return to these levels reinforces the positive atmosphere in the market and continues to attract the attention of large investors.
Bitcoin’s re-exclusion of $60,000 is compounded by the increasing institutional interest in the crypto market and strategic moves by large investors. The whale’s large transaction of 203 BTC shows that remarkable profitability is possible despite the volatility of the market. Such moves prove that investors are closely monitoring market movements and evaluating opportunities.
Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, shared a post about how profitable Bitcoin investors are. Accordingly, old whales have made more than double the return at the current price.
