A Bitcoin whale has recently made a significant $BTC shift. As per Spot On Chain, the whale transacted up to 1,100 $BTC to Binance after getting a profit of $86.9M from the former purchase. The on-chian analytics platform disclosed the details concerning this whale move in an exclusive X post.
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
According to Spot On Chain, the whale’s portfolio data shows a balance reaching $444.811M with a slight value dip of 2.694%. The latest transfer of 1,100 $BTC denotes the most prominent move in recent weeks. Former notable transfers include a deposit of 500 $BTC and a receipt of 999.999 $BTC during the past month. Based on the significant amount of the latest $BTC transfer, the market could experience some impact. In the case of more sell orders, the $BTC price could go through a provisional volatility, influencing the market sentiment.
