An on-chain analyst reports the whale sold 5,809.8 XAUt for $29.81 million at $5,130 each after liquidating all Bitcoin holdings, offsetting earlier BTC losses with XAUt gains.
An on-chain analyst, Yu Jin, reported that a well-known crypto whale sold 5,809.8 units of Tether Gold (XAUt) worth $29.81 million at a price of $5,130 per token. The sale occurred months after the whale fully liquidated their Bitcoin holdings, which incurred a $5.15 million loss. However, gains of $5.18 million from the XAUt trade nearly offset the loss, resulting in an overall breakeven position. The transactions suggest a continued shift away from Bitcoin toward gold-backed tokens, reflecting a defensive investment strategy amid market volatility.