Bitcoin Whale Shifts 1,100 $BTC to Binance after Earning $86.9M in Profit

Bitcoin Whale Transfers $106.4M in $BTC to Binance, Raising Speculation

Spot On Chain’s data reveals that the Bitcoin whale has transacted nearly $106.4M in $BTC to Binance. This latest Bitcoin transfer by the whale has triggered speculation concerning the likely strategic repositioning or selling pressure in the market. The respective whale has been reportedly accumulating $BTC since March last year. In this respect, the whale purchased a cumulative amount of 5,700 $BTC from Binance. The buyout was carried out for $81,418 as an average price per $BTC.

Whale Earns $86.9M in Gains via Strategic Bitcoin Accumulation

As a result of that Bitcoin accumulation, the whale has made substantial gains. During the past months following the strategic $BTC accumulation, the price of the crypto assets witnessed massive spikes. Ultimately, Bitcoin’s price is now hovering around approximately $96,800. At the moment, the whale possesses 4,598 $BTC. This figure accounts for a value of almost $444.6M. Hence, the Bitcoin whale has recorded a total gain of $86.9M. This amount represents a staggering 18.7% return in total.

Continued Sell Orders Might Heighten Price Volatility in Short Term