Bitcoin Whale Cashes Out After 2-Month Long, Securing $11.6M Profit
TL;DR
- Two Bitcoin wallets, possibly belonging to the same trader, closed a nearly two-month-long position with an $11.6M gain.
- The Lookonchain platform identified addresses 0x5FA and 0x237 as having closed simultaneously while BTC was trading near $81,000.
- The liquidation of $225M in short positions in just 10 minutes fueled the rally that made such a gain possible.
A whale once again caught the attention of the entire market. The onchain analytics platform Lookonchain identified two addresses —0x5FA and 0x237— that could belong to the same investor and that simultaneously closed a long position held for nearly two months, accumulating a combined gain of $11.6 million while BTC traded near $81,000.
The details of the entry price and the exact size of the position were not publicly disclosed. However, the timing of the exit coincides with the more than 25% surge BTC recorded from $58,000 to above $80,000, a move that materialized on August 25 and represented a climb of approximately $20,000 during the period in which the whale held its position.
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