Whale’s Bitcoin Journey: From $10 Million Profits to $2.47 Million Losses Amid Price Volatility
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
Shorts pay
On May 31, COINOTAG reported that notable on-chain analyst Yu Jin has tracked significant transactions involving a prominent whale in the cryptocurrency market. This investor purchased Bitcoin (BTC) at an impressive price of $85,751 at the end of March. Holding through to the present day could have yielded over $10 million in profits. However, in mid-April, the whale opted to sell at $84,426, right before Bitcoin surged to $110,000 shortly thereafter.
Post-sale, the whale borrowed 124 WBTC to enter a short position around $84,558. Unfortunately, just a few hours ago, these shorts were repurchased at $104,444, incurring a loss of approximately $2.47 million. Following this trade, the whale channeled $43.36 million USDT to acquire 16,638 ETH at an average price of $2,606. Currently, ETH trades below this acquisition price, reflecting an additional unrealized loss estimated at $1.66 million.