This Whale Scored $78M Profit By Depositing 3.1K BTC Into Binance Ahead Of Bitcoin's Dive To $40K
Portfolio Pulse from Mehab Qureshi
A cryptocurrency whale deposited 3,100 BTC into Binance before Bitcoin's price dropped to $40K, potentially making a $78M profit. The BTC was originally withdrawn from HTX when the price was $20,000. The market slump coincided with concerns over the SEC potentially rejecting spot Bitcoin ETF applications.
January 04, 2024 | 6:43 am
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A whale's deposit of 3,100 BTC to Binance preceded a market slump, with Bitcoin's price falling to $40K. This could indicate potential market manipulation or foresight by the whale.
The whale's action and the subsequent price drop could suggest a sell-off that contributed to the downward pressure on Bitcoin's price. However, without confirmation of the whale's sale, the full impact on the market is uncertain.
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