Whale Sell-off of WBTC: The Dark War Behind the 49.75 Million Profit in the Crypto World, Bottoming in Bear Markets and Harvesting in Bull Markets! Whale Earns 49.75 Million, Is a WBTC Sell-off Storm Coming?
In the late stage of the bear market from July to November 2024, a certain whale bottomed out 1495 WBTC at an average price of $69,000 through circular lending. In March this year, it suddenly launched a harvesting mode, transferring in batches to Binance for sale, having cashed out 69.17 million USDC by selling 723 pieces at an average price of 95.7 thousand, with 753 pieces still held, representing a potential bomb of 82.6 million!
Its total profit reached 49.75 million, with 19.17 million realized profit and 30.58 million in unrealized gains, precisely hitting the operation of the bull-bear switch, directly triggering panic in the crypto world!
The triple strangulation price transmission chain of the sell-off impact: WBTC is strongly correlated with BTC, and the selling pressure synchronously impacts BTC spot through cross-chain arbitrage. If the WBTC premium collapses, BTC may face a chain reaction of sell-offs; confidence nuclear explosion: the whale's bottoming in the bear market + the crushing forecast of profit-taking in the bull market completely tears apart retail investors' understanding of bull and bear markets, panic selling could trigger a 10-15% sharp drop at any time; dark line games: the whale keeps half of its position of 753 pieces, exposing its ambition for harvesting waves + betting on new highs. The market has not reached its endgame yet, but the rhythm has been grasped by large funds!
Retail survival rule: beware of short-term liquidity sell-offs, but don’t panic and try to escape the top: if BTC holds steady at the support of 90,000 dollars, the selling pressure may be absorbed by bulls, referencing the whale sell-off recovery market of 2023. Although the whale's scythe is fierce, it also exposes the gaming truth of the "bull market fluctuation period". Whether to escape the top or to wash out depends on whether you can keep up with the rhythm of on-chain funds!
Click to follow, let’s discuss in the comments whether the whale sell-off is a crisis or an opportunity. I will break down the on-chain dark war in real-time and reveal the logic behind large fund operations!
