Bitcoin Trading Mastery: Whale Earns $65M in Smart Moves"
It appears that certain Bitcoin (BTC) whales have demonstrated remarkable proficiency in trading, as evidenced by recent on-chain data analysis. A particular Bitcoin address, identified by its starting sequence 37BnFf, has been the focus of attention due to its highly successful trading strategies.
Initial Trading Strategy and Profit Accumulation
This Bitcoin whale embarked on a series of swing trades, initiating their activity in late 2022. They adopted an aggressive buying approach throughout the year, strategically choosing their moments to sell. Notably, the selling occurred only in April and early December. This pattern of trading suggests a deep understanding of market trends and timing.
Recent Profit-Taking and Exchange Transactions
According to Lookonchain, a blockchain tracking firm, the whale recently engaged in profit-taking activities. Following this, they transferred a substantial amount of $62.9 million to the cryptocurrency exchange Binance. This move was part of their latest round of profit realization.
Whale’s Trading Proficiency and Holdings
The whale’s expertise in trading is evident from their ability to buy Bitcoin at lower prices and sell them at peaks. After the recent transaction, they reportedly had 1,455 BTC left, equivalent to approximately $63.16 million. Their total profit from these trades is estimated to be around $65 million. The last significant sale they made was on 16 April, timed at the peak of Bitcoin’s price.
Another Whale with a Similar Strategy
Lookonchain also identified another Bitcoin whale employing a similar trading strategy. This individual focused on purchasing Bitcoin during price dips and selling them during a few select, opportune moments within the year. Their profit from these trades amounted to about $23 million.
Substantial Deposits and Trading Record
This second whale made a notable deposit of over $132 million worth of BTC into Binance. Their trading record over the past year involved three significant transactions, each characterized by buying low and selling high. The total profit from these trades is approximately $61 million, with a remarkable win rate of 100%.
At the time of writing, Bitcoin is trading at around $42,401, down 3.01% in the past 24-hour period but up a very impressive 154.68% in the year-to-date period.
Featured Image via Pixabay
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