A savvy Bitcoin whale has executed another profitable trade, capitalizing on Bitcoin’s recent price rally near its all-time high. The whale sold 562.2 Wrapped Bitcoin (WBTC) for $52.3 million just seven hours ago, securing a substantial profit of $6.83 million in a mere nine days. The trade highlights the whale’s precision in timing market fluctuations to maximize gains.
A smart whale sold 562.2 $WBTC for $52.3M near #Bitcoin’s new ATH 7 hours ago, locking in a $6.83M profit in just 9 days!
Since Sep 30, this whale has traded $WBTC twice, earning a total profit of $15.69M (+18.7%) across both trades!
Follow @spotonchain and set alerts to see… pic.twitter.com/L01XDAK5oz
— Spot On Chain (@spotonchain) November 20, 2024
According to Lookonchain, this recent trade marks the whale’s second major transaction since September 30, bringing the total profit to an impressive $15.69 million across two trades, representing an 18.7% overall gain. The first trade occurred between September 30 and November 6, involving 629.472 WBTC. During that period, the whale purchased at an average price of $60,937 and sold at $75,013, netting $8.86 million in profit (+23%).
The second trade, spanning from November 11 to November 20, saw the whale buying 562.192 WBTC at an average price of $80,895 and selling at $93,050. This earned them the aforementioned $6.83 million (+15%).
Movement Details
The whale’s activity has been meticulously tracked, providing insights into their strategic approach. As the chart illustrates, the whale made calculated inflows and outflows, aligning their trades with Bitcoin’s price movements. Their buy and sell actions were executed at key moments of price fluctuations, underscoring their adept market timing.
The on-chain data shows a purchase of 1.191K WBTC at an average price of $70,354, totaling $83.826 million. Conversely, they sold 1.192K WBTC at an average price of $83,522, accumulating $99.531 million. The result is a realized gain of $15.692 million, an 18.7% return on investment.
This whale’s success demonstrates the lucrative opportunities available to large-scale traders with sharp market awareness and the ability to act swiftly. Such high-profile trades can influence market sentiment and serve as a signal of confidence in Bitcoin’s long-term upward trajectory, especially as it approaches its all-time high.
