A Bitcoin whale has made a substantial profit over the past year, cashing out a significant portion of their holdings in a recent sell-off. According to Lookonchain monitoring, the whale sold 680 BTC, valued at approximately $38.77 million, just five hours ago.
Since December 8, 2022, this particular whale has been actively accumulating Bitcoin, purchasing a total of 4,562 BTC at an average price of $26,449. Over time, they have strategically sold 3,938 BTC at an average price of $45,966, realizing a substantial profit of $96 million.
As of now, the whale still holds 624 BTC, valued at $35.65 million. While the reasons behind this latest sell-off remain unclear, it serves as a reminder of the volatile nature of the cryptocurrency market and the potential for significant profits and losses.