Third-Largest Bitcoin Whale Sold at $56K and Bought Back at $57K a Day Later
One of the largest Bitcoin whales, who has been quite active lately, sold 1,500 coins at $56,200 yesterday. Interestingly, they bought back a third of that quantity a day later at a higher price.
As outlined by CryptoQuant’s analyst going by the Twitter handle VentureFounder, the unknown BTC whale sold a large chunk of 1,500 bitcoins on October 3rd at $56,200 per coin. In USD terms, this substantial amount totaled $84,300,000.
This coincided with their recent strategy to dispose of some of the BTC holdings. Their address shows several sales in a row, including a massive one for 3,000 BTC on October 5th.
Previously, the whale had accumulated millions of dollars worth of the primary cryptocurrency from early September. In fact, their last sale evident in this address before October 5th was on September 2nd.
But now, they had four consecutive sales for 7,500 bitcoins in total in about a week. While it seemed that the whale had started to take profit after buying the dip in mid-September, they changed their tune once more and made a new purchase earlier today.
This time, the mysterious whale bought 494 BTC at $57,300. What’s more interesting about this is that it was the first time since August that they bought at a higher price shortly after selling some portions at a lower.
VentureFounder updated that the whale’s total stash now is 105,758 bitcoins (or more than $6 billion at today’s prices). Moreover, they sit on unrealized gains of $4.3 billion.
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