A Bitcoin whale recently returned to activity after 1.5 years to capitalize on BTC’s major price increase from $26,353 to $83,707 which earned them a profit totaling $85.7 million.
Accumulation During the Bear Market
This specific whale purchased 1,500 BTC from Cumberland at a $26,353 trading price on August 18th, 2023. The $39.5 million investment occurred during a time of negative market mood where retail investors showed mainly caution.
During the deep bear market when Bitcoin experienced its all-time high surge the whale executed a strategic market entry that resulted in remarkable profit from this accumulation strategy. The Whale demonstrated its recent business activity through several strategic trading transactions.
Breaking Down the Whale’s Latest Moves
The whale carried out substantial transactions on the blockchain three hours back.
- Three hundred Bitcoins worth $25.1 million entered FalconX which functions as an experienced trading platform. These movements indicate that the whale might be either trying to sell or protect their holdings against continued market fluctuations.
- Two new Bitcoin wallets received 1,050 BTC ($87.2 million) which the whale might use either to maintain extended ownership or execute strategic portfolio distribution.
- The whale appears to utilize 150 BTC ($12.5M) in the original wallet for market observation or to achieve future trading purposes.
What’s the Strategy Here?
FalconX received 300 BTC from the whale which signifies a typical profit-locking strategy used by whales to cash out gains after a substantial price surge. The continued positive sentiment of the whale becomes noticeable as they transfer 1,050 BTC to fresh wallets which suggests either a long-term market position or storage in cold storage.
219% ROI on Bitcoin Trades – A Masterclass in Market Timing
This whale performed perfectly in the $26K bear market range which resulted in a 219% return beyond most market players’ achievements. Market participants who accumulate assets intelligently while prices decline should leverage fluctuating market conditions when they rise again.
What’s Next for BTC?
The whale’s selling actions likely create market pressure but this likely stems from institutional selling profits. The substantial new wallet acquirement demonstrates strong investor belief in Bitcoin’s upcoming price growth which aims for the $90K-$100K zone in the coming months.
