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In the cryptocurrency market, on-chain data can now show us many results. Based on this data, we can often make some predictions. On the other hand, what catches our attention the most is undoubtedly the movements of the whales. Those trying to mimic the movements of whales can adjust their strategies accordingly. Today, I will share the BTC moves of a smart whale reported by Lookonchain. This whale has made significant profits with timely moves.
Bitcoin Whale’s $30 Million Profit
A Bitcoin whale has recently attracted attention with its impressive trading skills. Over the past year, this whale has made two Bitcoin transactions, each time making a profit. It is stated that the total profit achieved through these transactions exceeds $30 million.
The first transaction of the whale occurred between August 9 and November 2, 2023, by purchasing 718 Bitcoins at an average price of $29,385. The whale sold these Bitcoins between December 15 and December 18, 2023, at an average price of $41,953. This transaction provided the whale with a profit of $9 million, representing a 43% return on investment. However, the whale’s moves did not stop there.
BTC Whale’s Moves Continued
Following this successful investment, the same whale made another significant transaction earlier this year. From February 7 to May 13, the whale purchased 1,181 Bitcoins at an average price of $48,822. Once again, perfectly timing the sale, the whale sold them between May 27 and June 20 at an average price of $66,792. This second transaction brought a much larger profit of $21.2 million. Accordingly, we see a 37% return on investment.
The whale now has a new move. This new move came just five hours ago. Accordingly, the whale deposited all 660 Bitcoins, worth approximately $42.85 million, into the Binance cryptocurrency exchange. This indicates that a new wave of sales may be coming. The whale may not want to sell their BTC immediately. They will likely want to take advantage of a price increase.
The Bitcoin address of this investor is 3QYQ8YthYTaAFJmzUqiis7iRSWG7e5buBN. Anyone can follow the whale’s movements on the Bitcoin Blockchain. The flagship of cryptocurrencies, Bitcoin, is trading at $64,674 as of writing.
