$BTC

Whale withdraws US$ 45 million in Bitcoin from Binance after losing US$ 40 million

Recent data from Lookonchain revealed that a large Bitcoin whale withdrew 800 BTC, valued at over US$ 45.37 million, from Binance. The movement caught the market's attention, especially due to the whale's history. This investor has accumulated significant losses from poorly timed trades in recent months.

With the recent withdrawal, the market speculates about the whale's next strategies and the possible impacts on the price of Bitcoin (BTC).

In the last three months, the whale lost over US$ 40 million by buying Bitcoin at high prices and selling at lower values.

An example of this strategy occurred in September. At that time, the whale purchased US$ 19 million in Bitcoin as part of a larger investment of US$ 136 million. However, they sold nearly US$ 500 million in BTC between June and July at prices below the purchase value, widening their losses.

Despite this history of poor decisions, the recent withdrawal of 800 BTC from Binance suggests that the whale may be planning a new investment strategy. The market is now waiting to see if the whale can reverse their losses and capitalize on the recent rise in Bitcoin.