A mysterious crypto whale took a round trip with 1,850 BTC, resulting in a $13 million loss within six days. The whale withdrew and then redeposited the Bitcoin at a significantly lower price, leaving analysts baffled.
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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.The crypto community is buzzing about a recent transaction involving a mysterious whale who took a round trip with 1,850 BTC, resulting in a staggering $13 million loss in just six days. Six days ago, the whale withdrew 1,850 BTC worth $188.7 million from Binance at $101,998. A few hours ago, the whale deposited the entire 1,850 BTC stash back to Binance, which was worth $175.7 million at the time of the transfer, with Bitcoin's price at $94,963, resulting in a $13 million loss over six days.The 1,850 BTC withdrawal may have been made with positive expectations of the Bitcoin price, but the whale reversed course and redeposited the exact 1,850 BTC back to Binance, albeit at a considerably lower price of $94,963 per BTC, for a total of $175.7 million. The move effectively locked in a $13 million loss, a baffling decision that has sparked speculation about the whale’s intentions, which remain unknown. A potential explanation is that given the current market uncertainty, the whale might have sold to avoid further losses. It is also possible that the whale miscalculated the entry and exit points, leading to an unintended loss.Bitcoin was down 3.40% in the last 24 hours to $91,000 amid an ongoing market sell-off that saw $479 million in liquidations. After a brief consolidation between $93,600 and $95,400 over the weekend, Bitcoin reached highs of $95,900 in Monday's session, but bulls encountered resistance, and the price fell sharply. On the macroeconomic front, this week will provide investors with a clearer picture of the status of the economy following last week's blowout jobs data, which pushed markets lower. The stronger-than-expected nonfarm payroll report fueled concerns that the Federal Reserve may act cautiously going forward, casting doubt on additional interest rate cuts. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.Community-Governed Meme Coin Flockerz Raises $9.5M in Presale Ahead of Exchange Launc
CRYPTO WHALE BITCOIN LOSS MARKET SELL-OFF SPECULATION
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