Realizing Profits or Reducing Risk? Third-Largest Bitcoin Whale Just Sold 1,500 BTC at $54.3K

Over the past seven days, bitcoin’s price is up by roughly 23% according to data from CoinGecko. It’s a considerable advance in a relatively short amount of time, and the third-largest BTC whale has decided it’s time to take some profits.

  • The third-largest Bitcoin address currently holds around 108,265 BTC according to Bitinfocharts. 
  • It appears, though, that the whale entity has decided that it’s time to realize some profits or to reduce his risk to an extent.
  • The address disposed of 1,500 BTC at $54,300 today in a trade worth almost $81.5 million.
  • This was noted by a CryptoQuant analyst, who pointed out that “this whale bought 4,980 BTC since the dip in early September at $45k/BTC average, he has since sold 4,500 of them and realized a total profit of $28.5M.”
  • Commenting on the matter was CryptoPotato analyst Daniel Joe, who said:

I think we can expect some more selling, especially with BTC heading into the 55k to 58k range. The whale bought 15,227 Bitcoin between 50k to 58k earlier, so I think they will be reducing risk to break even or realize a small profit. Still minor selling as the whale is a net buyer.

  • Indeed, this was just a tiny fraction of the whale’s overall holdings.
  • As CryptoPotato reported earlier, the address has recently bought roughly around $13 million worth of BTC at $40.5K dduring the dip in September.
  • As a matter of fact, the entity went on a buying spree back then and added bitcoin worth a total of $170 million in two weeks.
SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }

The post appeared first on CryptoPotato

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 98,715.45 1.20%
Ethereum (ETH) $ 3,385.34 7.66%
Tether (USDT) $ 1.00 0.16%
Solana (SOL) $ 260.60 8.19%
BNB (BNB) $ 634.42 3.46%
XRP (XRP) $ 1.39 23.45%
Dogecoin (DOGE) $ 0.396037 1.57%
USDC (USDC) $ 0.999238 0.17%
Lido Staked Ether (STETH) $ 3,384.80 7.75%
Cardano (ADA) $ 0.885571 11.17%