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    Home » Crypto News » Third-Largest Bitcoin Whale Sold at $56K and Bought Back at $57K a Day Later

    Third-Largest Bitcoin Whale Sold at $56K and Bought Back at $57K a Day Later

    Author: Jordan Lyanchev

    Last Updated Oct 14, 2021 @ 16:33

    For the first time in two months, the third-largest BTC whale sold at a lower price but bought back at a higher a day later.

    One of the largest Bitcoin whales, who has been quite active lately, sold 1,500 coins at $56,200 yesterday. Interestingly, they bought back a third of that quantity a day later at a higher price.

    • As outlined by CryptoQuant’s analyst going by the Twitter handle VentureFounder, the unknown BTC whale sold a large chunk of 1,500 bitcoins on October 3rd at $56,200 per coin. In USD terms, this substantial amount totaled $84,300,000.
    • This coincided with their recent strategy to dispose of some of the BTC holdings. Their address shows several sales in a row, including a massive one for 3,000 BTC on October 5th.
    • Previously, the whale had accumulated millions of dollars worth of the primary cryptocurrency from early September. In fact, their last sale evident in this address before October 5th was on September 2nd.
    • But now, they had four consecutive sales for 7,500 bitcoins in total in about a week. While it seemed that the whale had started to take profit after buying the dip in mid-September, they changed their tune once more and made a new purchase earlier today.
    • This time, the mysterious whale bought 494 BTC at $57,300. What’s more interesting about this is that it was the first time since August that they bought at a higher price shortly after selling some portions at a lower.
    • VentureFounder updated that the whale’s total stash now is 105,758 bitcoins (or more than $6 billion at today’s prices). Moreover, they sit on unrealized gains of $4.3 billion.
    Third-Largest Bitcoin Whale Behavior. Source: Twitter
    Third-Largest Bitcoin Whale Behavior. Source: Twitter
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    Tags: Bitcoin Bitcoin (BTC) Price Bitcoin Whales
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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