Bitcoin Whale Makes 126% Profit Selling BTC Before Market Crash

According to recent data published by the blockchain sleuth @lookonchain, a cryptocurrency trader transferred a large amount of Bitcoin to Binance and sold it before the price of the flagship cryptocurrency plummeted.

Trader sells BTC before price crash

The fiat equivalent of that Bitcoin chunk was a whopping $140 million. The data source also stated the trader had withdrawn that BTC from Huobi exchange in early October last year, when the price tag was $20,000. The trader has sold after digital gold made a cumulative 2x increase, making impressive profit of approximately $78 million on it, which is equal to 126%, according to @lookonchain.

By now, BTC has recovered 2.55% from its yesterday’s 7% collapse. Bitcoin crashed after Matrixport issued an article in which it assumed that the SEC is unlikely to approve any of the dozen Bitcoin spot ETF applications submitted to it by Wall Street giants BlackRock, Grayscale, Fidelity and others. The report named various reasons for it, including internal U.S. political things and geopolitical ones.

Whales buying Bitcoin and Ethereum deep

Following the publication of this report, traders began to actively close their open crypto positions, wiping approximately $730 million worth of assets off the cryptocurrency market. Bitcoin and Ethereum were liquidated in the largest amounts.

Meanwhile, other whales have been purchasing crypto on the dip. According to @lookonchain, two anonymous cryptocurrency wallets purchased 35.18 WBTC at $42,641 and 674.18 ETH at the $2,225 price tag, spending 3 million USDC on both.

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Robert Kiyosaki endorses Bitcoin halving 2024

Prominent financial guru and author of popular book “Rich Dad Poor Dad” highlighted the approaching Bitcoin halving in April as an important event, urging his X followers to pay attention to it.

Kiyosaki has been a vocal Bitcoin supporter and investor over the past three years. Apart from Bitcoin, he is also invested in gold and silver, predicting that all these three risk assets are likely to jump in prices within the next few years. He believes Bitcoin will likely reach $130,000 and then even $500,000 by 2025. He continues to buy Bitcoin, physical gold and silver on the dip, believing that even if the U.S. economy collapses in the future, these three assets will be of great value.