After Losing $40 Million, This Bitcoin Whale Makes Next Major Move
09/12/2024 14:48
Will the massive Bitcoin whale be able to bounce back after a streak of massive losses?
Will the massive Bitcoin whale be able to bounce back after a streak of massive losses?
According to data provided by Lookonchain, a whale recently withdrew a total of 800 BTC (more than $45.37 million) from Binance.
As noted by the firm, this is the same whale who foolishly lost a whopping $40 million with some poorly-timed trades.
The whale in question purchased $19 million worth of Bitcoin on Sept. 3, expanding their $136 million buying spree.
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Prior to that, the whale sold nearly half a billion dollars worth of Bitcoin between June 27 and July 8.
These sales took place at price lows despite after the whale purchased Bitcoins at higher prices.
It remains to be seen whether the whale will be able to bounce back with the most recent trades.
The largest cryptocurrency is currently trading at $58,113 after adding 2.6% over the past 24 hours.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].
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