A Bitcoin whale, inactive for 1.5 years, recently reactivated and earned $85.7 million due to the rise in BTC prices. Let's discuss the details of their strategic actions.
Accumulation During the Bear Market
This whale purchased 1,500 BTC from Cumberland at a price of $26,353 on August 18th, 2023. The $39.5 million investment occurred during a period of negative market sentiment, where retail investors exhibited caution. During the deep bear market, the whale executed a strategic market entry that resulted in remarkable profit. The whale demonstrated its recent business activity through several strategic trading transactions.
Breaking Down the Whale’s Latest Moves
Recently, the whale made substantial transactions on the blockchain. * Three hundred Bitcoins worth $25.1 million entered FalconX, which indicates that the whale might be trying to sell or protect their holdings against market fluctuations. * Two new Bitcoin wallets received 1,050 BTC ($87.2 million), suggesting either extended ownership or portfolio diversification. * The whale appears to keep 150 BTC ($12.5M) in the original wallet for market observation or future trading.
The Strategy for Exiting Investments
FalconX received 300 BTC from the whale, signifying a typical profit-locking strategy used after substantial price rises. The transfer of 1,050 BTC to new wallets suggests either a long-term market position or cold storage.
The whale's actions likely create market pressure, but new acquisitions demonstrate strong belief in Bitcoin's continued price growth, possibly reaching $90K-$100K in the coming months.
