Crypto Whale Suffers $45 Million BTC Sale with $10.8 Million Loss
A tracked whale shifted from major BTC trades to a large ETH position, now showing tens of millions in unrealized profit amid price gains.
BTC
ETH
WBTC
Summary
A monitored whale exited Bitcoin positions and moved substantially into Ethereum, previously holding a 6x leveraged position of 11,590 ETH. On December 1, the address withdrew 77,385.34 ETH at $2,835 each, valued at over $219 million. With ETH now trading at $3,141, the position shows an unrealized profit of approximately $23.47 million. This follows earlier trades resulting in realized profits on BTC and substantial losses across BTC, WBTC, and ETH, alongside near-liquidations during market downturns.
Terms & Concepts
- On-chain analysis: The study of blockchain transaction data to track movements of funds and identify market trends.
- Wrapped Bitcoin (WBTC): A token on the Ethereum blockchain representing Bitcoin, allowing BTC to be used in Ethereum-based applications.
- USDC: A U.S. dollar-pegged stablecoin used for transactions and trading in the cryptocurrency ecosystem.