Bitcoin Whale Pockets $217 Million Windfall
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Bitcoin Whale Pockets $217 Million Windfall
Bitcoin surges, whale profits; ATH signals investor euphoria.
Bitcoin (BTC), the leading cryptocurrency, continues to capture global attention with its relentless ascent in value, drawing in investors worldwide.
A substantial Bitcoin whale, boasting ownership of 8,500 BTC, struck a multimillion-dollar jackpot as Bitcoin’s price surged. According to insights from Lookonchain, an on-chain analytics platform, this whale secured a $217 million windfall as Bitcoin’s prices soared.
The #Bitcoin price just topped $73,000!
Sharing a smart whale who made ~$217M on $BTC, and currently holds 4.3K $BTC($313M)!
He deposited 100 $BTC ($7.22M) into #Binance 3 hours ago to take profits.
He started accumulating $BTC on Aug 24, 2023 and withdrew 8.5K $BTC($279M)… pic.twitter.com/8MG3thpg35
— Lookonchain (@lookonchain) March 13, 2024
The whale began buying Bitcoin on August 24, 2023 and later took out 8,500 Bitcoin worth $279 million from Binance at an average price of $32,854.
Withdrawals from crypto exchanges usually mean the buyer wants to buy, while deposits may mean the buyer wants to sell.
Based on data, the whale had 8,500 BTC on August 24, 2023. As Bitcoin prices increased, the “whale” either put or sold 4,300 BTC worth $183 million into Binance, an average of $43,534 per BTC.
Bitcoin Whale’s Strategic Moves Amidst Record-Breaking Surge
The whale most recently bought or sold another 100 BTC worth $7.22 million on Binance to make more money. The whale currently has 4,300 BTC, worth $313 million at the current exchange rate. They have made a total of $217 million.
Moreover, Bitcoin has reached a new all-time high (ATH) of $73,634. This marks the start of a price discovery period and makes investors feel more euphoric.
BTC All-Time High CoinMarketCap
Several indicators suggest a striking resemblance to previous ATH breakouts, with a shift in wealth from longstanding HODLers to fresh investors and speculators already evident. At the time of reporting, Bitcoin is trading at $72,653, reflecting a 1.74% increase over the past 24 hours.
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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