#BinanceHODLerDOLO Bitcoin whale that liquidated to buy Ethereum made new moves$BTC
#SOLTreasuryFundraising Recently, a long-standing Bitcoin whale liquidated a large portion of its funds in the largest cryptocurrency to invest in Ethereum. The move took the market by surprise, and many investors interpreted it as a warning sign. However, this player continues to carry out enigmatic operations.
According to a report from Lookonchain a few days ago, a whale that held thousands of inactive BTC began to move again. The investor not only liquidated a good part of its holdings to buy ETH, but also opened long positions in the leveraged derivatives market with Ethereum's native token.
#MITOBinanceWalletTGE Nevertheless, the whale seems to have been dissatisfied with that risky strategy. Shortly after, it closed the long positions it had opened in ETH, an unusual move given that these are quick and risky trades for someone who kept their funds inactive for seven years.
The strategy of this whale can be considered profitable, although high-risk. Unlike holding BTC long-term, investing in leveraged derivatives of Ethereum implies exposing oneself to even greater volatility and amplified losses. The recent liquidations of its long positions likely responded to the goal of adjusting the bet and reducing risks.
In total, the whale made 2.6 million dollars from closing its long positions and used that capital to buy ETH on the spot.