According to digital asset tracker Lookonchain, a “smart” crypto whale recently unloaded millions of dollars worth of Bitcoin (BTC) after months of dormancy.
Look at chain notes the whale sold 200 BTC worth $11.6 million earlier this week after not touching his Bitcoin holdings for five months.
“This whale is very good at buying BTC at low prices and selling it at high prices! The whale currently has 2,800 BTC ($164.4 million) left, with a total profit of over $168 million!”
It is not the only whale unloading BTC: another address deposited 119 BTC worth $7.14 million on the crypto exchange Binance on Saturday, according to Lookonchain.
The crypto tracker notes the second whale has also made profits on the most important crypto asset.
“This whale has withdrawn a total of 3,409 BTC ($195.4 million) from Binance since December 1, 2023 at an average price of $57,319. He then deposited 320 BTC ($19.56 million) to Binance for $61,192, with 3,089 BTC ($186 million) left.
His profit on BTC is ~$10.5 million.”
BTC is trading at $60,557 at the time of writing. In fact, the highest-ranked crypto asset is trading in the last 24 hours, but is up more than 5% in the past week. Bitcoin remains nearly 18% lower than its all-time high of nearly $74,000, which it reached last March.
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Generated image: Midjourney
Credit : dailyhodl.com
