All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- A smart whale sold 200 BTC after being dormant for five months, netting over $168 million in total profits.
- Bitcoin saw $436 million in inflows as investor optimism grows, while Ethereum faces outflows amid Layer 1 profitability concerns.
According to Lookonchain, a smart whale in the crypto market made news again by selling 200 BTC worth $11.6 million after dormant for five months. This whale has built a reputation for perfectly timing the market, buying Bitcoin at low prices and selling at highs.
A smart whale sold 200 $BTC($11.6M) again today after being dormant for 5 months!
This whale is very good at buying $BTC at low prices and selling at high prices!
The whale currently has 2,800 $BTC($164.4M) left, with a total profit of more than $168M!
Address:… pic.twitter.com/BFY1ChYlf8
— Lookonchain (@lookonchain) September 17, 2024
Whale’s Remaining Holdings and Bitcoin Rising Market Optimis
With the recent sell, the whale still has 2,800 BTC, which is currently worth $164.4 million. The whale have made a total profit of more than $168 million from their trading activity, demonstrating the effectiveness of their techniques.
Meanwhile, BTC is currently trading at $60,211.66, up 2.48% over the last 24 hours and 6.59% over the last week. These data reflect Bitcoin’s continuous bullish sentiment, particularly as market optimism builds about an expected interest rate reduction from the US Federal Reserve.
No coins selectedAccording to a prior CNF report, such optimism has resulted in massive inflows into the market, with Bitcoin garnering $436 million, marking a strong recovery that has strengthened its market position.
In contrast, Ethereum has seen a $19 million outflow because of concerns about profitability in its Layer 1 operations, while Solana continues to see positive inflows, indicating significant investor trust in its ecosystem.
Lookonchain mentions a dormant whale, but it is not the only large-scale holder making moves. CNF has highlighted another dormant whale, which liquidated some of its assets after sitting on 16,636 ETH for eight years.
These dormant whales, who re-enter the market after extended periods of inactivity, frequently cause huge ripples, especially when they own large quantities of cryptocurrencies.
