While it was certain that the SEC would approve spot Bitcoin ETFs, investors and the market focused on January 8-10.
At this point, while the ETF approval was expected to bring an increase in the BTC price, the whales did not sit idle.
According to Lookonchain's post, the smart whale continues to accumulate BTC before the smart whale ETF approval.
Accordingly, the whale purchased 1,750 BTC (worth $76.9 million) from Binance in the last two days.
Buying at $43,953 per Bitcoin, the whale appears to be successful in BTC trading.
Because this whale, who bought 6,000 BTC at $26,444 between August 24 and September 2, sold 3,000 of his BTCs and made a profit of $26.4 million.
“A smart whale accumulated 1,750 BTC (worth $76.9 million) from Binance at $43,953 in the last 2 days.
The smart whale accumulated 6,000 BTC (worth $158.66 million) from August 24 to September 2 at $26,444.
He then deposited 3,000 BTC (worth $105.7 million) to Binance at $35,241, making a profit of $26.4 million.”
Bitcoin continues to trade at $43,700 at the time of writing.
A smart whale has accumulated 1,750 $BTC($76.9M) from #Binance in the past 2 days at $43,953.
The smart whale accumulated 6,000 $BTC($158.66M) at $26,444 from Aug 24 to Sept 2.
Then deposited 3,000 $BTC($105.7M) to #Binance at $35,241, making $26.4M.https://t.co/EXfzTyH8r3 pic.twitter.com/YX8infAm40
— Lookonchain (@lookonchain) January 8, 2024
*This is not investment advice.
