Whale Withdraws $45 Million in Bitcoin from Binance After $40 Million Loss

Recent data from Lookonchain reveals that a major cryptocurrency whale has withdrawn 800 BTC, valued at over $45.37 million, from Binance.

This whale, who previously lost $40 million due to poorly timed trades, had purchased $19 million worth of Bitcoin on September 3 as part of a larger $136 million investment.

The whale withdrew 800 $BTC($45.37M) from #Binance again 17 hours ago!

But this whale has always bought $BTC at high prices and sold at lows in the past 3 months, losing more than $40M!

Address:
3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN pic.twitter.com/41V9HSlx6k

— Lookonchain (@lookonchain) September 12, 2024

Earlier, the same whale sold nearly $500 million worth of Bitcoin between late June and early July at lower prices, despite buying them at higher rates.

It remains to be seen if these recent transactions will help the whale recover from past losses.

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Bitcoin is currently trading at $57,850, reflecting a 2.6% increase over the past 24 hours.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.