In a remarkable feat, a crypto whale has managed to rake in a staggering $3 million in just four days through their Bitcoin trading strategy. The whale made their move during a market downturn on May 3 by strategically purchasing 767 bitcoins at a relatively low price of around $59,226 per BTC. The total investment for this purchase on Coinbase amounted to approximately $45.44 million. The decision to buy at this specific time was based on the whale’s astute understanding of market movements, identifying what they believed to be the bottom price for Bitcoin.
Four days after their initial acquisition, as the market began to rebound, the whale then transferred the same 767 BTC, which were now valued at $48.46 million, to Binance, another leading global cryptocurrency exchange. This move clearly demonstrated their intention to capitalize on the price recovery of Bitcoin over those four days. By depositing the Bitcoins into Binance, the whale positioned themselves to sell at a higher price, ultimately securing a profit of more than $3 million from these consecutive trades.
The transparency and traceability inherent in blockchain technologies allowed entities like Lookonchain to track and report on the transaction details, including the Bitcoin address involved (1PGncMc8diiELpe4JAVCY51fcQ215JegAF). This level of transparency allows for insights into how significant players in the market are influencing dynamics.
This example of successfully buying low and selling high not only showcases the skill of the individual trader but also sheds light on how large-scale transactions can impact the broader cryptocurrency market. The whale’s ability to strategically maneuver such substantial capital and profit from it highlights both the sophistication and risks associated with high-stakes trading in digital assets.
(Source: [Lookonchain Twitter](https://twitter.com/lookonchain/status/1390677050310850562))