Date: Thu, Sept 05, 2024, 03:12 PM GMT
In the cryptocurrency market, Bitcoin (BTC) has been on a bit of a rollercoaster lately. Over the past week, BTC has seen a dip, losing around 7.38% of its value and currently trading at the $56,000 level. But what really caught the community’s attention was a massive move by a “smart whale” that decided to offload a significant chunk of their Bitcoin holdings.
According to Lookonchain, this smart whale made a bold move just five hours ago, dumping 680 BTC worth a staggering $38.77 million.
A smart whale dumped 680 $BTC($38.77M) 5 hours ago!
— Lookonchain (@lookonchain) September 5, 2024
Since Dec 8, 2022, the whale bought 4,562 $BTC($120.66M) at $26,449 and sold 3,938 $BTC($181M) at $45,966, leaving 624 $BTC($35.65M).
The whale has a total profit of $96M on $BTC!https://t.co/5Jf8yzSfsu pic.twitter.com/AZDJuUg5cU
But let’s rewind a bit. Since December 8, 2022, this whale has been strategically accumulating Bitcoin. They purchased a total of 4,562 BTC at an average price of $26,449 per BTC, which cost them around $120.66 million. Fast forward to recent months, and the whale started selling off their holdings when BTC was trading at a much higher price. They managed to sell 3,938 BTC at an impressive average price of $45,966, raking in around $181 million.
After this latest sell-off, the whale still holds 624 BTC, which is currently worth approximately $35.65 million.
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