Smart Whale Sells $11.6M BTC After Five Months of Dormancy!

• A smart whale sold 200 BTC after being dormant for five months, netting over $168 million in total profits.
• Bitcoin saw $436 million in inflows as investor optimism grows, while Ethereum faces outflows amid Layer 1 profitability concerns.

According to Lookonchain, a smart whale in the crypto market made news again by selling 200 BTC worth $11.6 million after dormant for five months. This whale has built a reputation for perfectly timing the market, buying Bitcoin at low prices and selling at highs.

A smart whale sold 200 $BTC($11.6M) again today after being dormant for 5 months!

This whale is very good at buying $BTC at low prices and selling at high prices!

The whale currently has 2,800 $BTC($164.4M) left, with a total profit of more than $168M!

Address:… pic.twitter.com/BFY1ChYlf8

— Lookonchain (@lookonchain) September 17, 2024

Whale’s Remaining Holdings and Bitcoin Rising Market Optimis 

With the recent sell, the whale still has 2,800 BTC, which is currently worth $164.4 million. The whale have made a total profit of more than $168 million from their trading activity, demonstrating the effectiveness of their techniques.

Meanwhile, BTC is currently trading at $60,211.66, up 2.48% over the last 24 hours and 6.59% over the last week. These data reflect Bitcoin’s continuous bullish sentiment, particularly as market optimism builds about an expected interest rate reduction from the US Federal Reserve.

According to a prior CNF report, such optimism has resulted in massive inflows into the market, with Bitcoin garnering $436 million, marking a strong recovery that has strengthened its market position.

In contrast, Ethereum has seen a $19 million outflow because of concerns about profitability in its Layer 1 operations, while Solana continues to see positive inflows, indicating significant investor trust in its ecosystem.

Lookonchain mentions a dormant whale, but it is not the only large-scale holder making moves. CNF has highlighted another dormant whale, which liquidated some of its assets after sitting on 16,636 ETH for eight years.

These dormant whales, who re-enter the market after extended periods of inactivity, frequently cause huge ripples, especially when they own large quantities of cryptocurrencies.