On January 16th, COINOTAG News reported that significant movements in the cryptocurrency market have transpired, particularly for a notable trader recognized for capitalizing on prior downturns. This investor, known for their strategic short positions on BTC during the LUNA/UST debacle, recently liquidated a substantial holding of 4,192 ETH, originally acquired in September. The execution occurred approximately thirty minutes prior, yielding a remarkable profit of $3.02 million.
Over a span of three days, this trader strategically discharged their ETH holdings in several transactions from two distinct wallets. The initial purchase price was recorded at $2,490, while the average sale price reached $3,210, culminating in an impressive return rate of 28.9%. This adept market maneuvering has led to total gains of $7.41 million by leveraging dips in BTC and WBTC, alongside the recent $3.02 million profit from ETH transactions. Such activities underscore the importance of market timing and astute investment strategies in the volatile crypto landscape.