Bitcoin

<p>Recently, a <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> whale has pocketed a significant amount after strategic withdrawals and deposits into Binance. As per Lookonchain, a popular on-chain analytics firm, the whale has gained $10.5 million, following a recent deposit of 119 $BTC (equaling almost $7.14M) to Binance to get profit. The analytics provider took to its official social media account to provide the details of the whale’s latest activity.</p><h2 id="header-0">Bitcoin Whale Makes Strategic Withdrawals and Deposits to Binance, Pocketing $10.5M</h2><p>Since the 1st of December last year, the whale has redeemed a cumulative 3,409 $BTC (valued at $195.4M) from <a href="https://binance.com/" rel="noopener noreferrer nofollow">Binance</a>. The withdrawal accounted for an average per $BTC price of nearly $57,319. The respective token extractions denote the whale’s recent accumulation of Bitcoin at decreased prices. It also points out that the whale waiting for the fine moment to leverage price movements.</p><h2 id="header-1">The Whale Still Holds $186 Million in $BTC</h2><p>As a result of this huge withdrawal, the whale minimized exposure during likely price fluctuations. The whale held on to the respective assets while the market was seeing a higher trend. A more recent development shows that the whale still holds 3,089 $BTC with a value of approximately $186M. This highlights the reluctant yet strategic moves of the whale in the management of a large Bitcoin portfolio.</p><p>The whale effectively managed to get a profit of almost $10.5M with the respective transfers. This displays the significance of patience and timely moves in big-scale $BTC trading, where minor price movements across huge $BTC amounts can result in massive returns.</p>

Bitcoin Whale Nets $10.5 Million Profit Through Strategic Binance Moves

Table of Contents

BlockchainReporter

Other articles published on Sep 15, 2024

XRP Targets Key Price Level Amid Bullish Momentum: Can It Break Resistance?

Coinpedia Fintech News

Whales Back In Action: Is Turbo Price Set for a Major Surge?

What XRP’s Launch on Robinhood Europe Means for European Crypto Traders

Dogecoin Siap Melejit! Analis Targetkan Harga Jangka Pendek ke US$0,26

CYBRO $CYBRO Scam Warning: Don’t Get Fooled by $SHIB, $DOGE, $SUNDOG, and $TET Comparisons!

Join our free newsletter for daily crypto updates!