7 wallets that have been dormant 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 in profit. According to Lookonchain’s data, this whale purchased 203 BTC at $26,047 for a total of $5.29 million between March 10 and August 7, 2023.
They took action when the Bitcoin price rose
The price of Bitcoin has risen by 3.4 percent in the last 24 hours, returning above $60,000. This rise has allowed large investors to profitably dispose of BTC they have acquired in recent months. The fact that Bitcoin has reached these levels again reinforces the positive sentiment in the market and continues to attract the attention of large investors.
Bitcoin’s re-expansion of the $60,000 level is coupled with 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.
Stay tuned for new information.
