Bitcoin (BTC) Whale Makes Another Lucrative Trade

A pseudonymous bitcoin whale has made yet another extremely profitable BTC trade, according to on-chain analyst LookOnChain. The whale deposited 3,000 bitcoin (worth $132.7 million) onto Binance exchange today, representing profits of around $23 million from their latest trade.

This appears to be the same trader who has now made three huge BTC trades over the past year – each time buying during market dips and selling near the peaks. With bitcoin currently trading around $44,000, up 76% from its summer lows of $25,000, the whale timed the market perfectly once again.

In total, this sophisticated trader has netted about $61 million in profit over just three BTC trades, demonstrating a win rate of 100%. As the crypto markets continue their recovery, whales and institutional investors are becoming more active again, driving increased volatility.

Apart from bitcoin’s resurgence, altcoins are also rallying hard. With crypto sentiment decidedly bullish compared to the ‘crypto winter’ of 2022 and early 2023, the big crypto players are coming out to take advantage of the momentum. Leveraged funds are likely contributing to the volatility.

The pseudonymous whale’s profit-taking may indicate they believe BTC is near its local top for now. However, with the crypto markets heating up and bitcoin holding key support above $40k, traders remain overall optimistic on future price action.

Read also:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency

CaptainAltcoin
Logo