While some investors prefer to take profits in the short term by taking advantage of the rises in Bitcoin and altcoins, some investors prefer to wait to get more profits in the long term.
At this point, a Bitcoin whale also moved 7,000 BTC to the exchange.
According to Coindesk, a large BTC whale sent 7,000 Bitcoins worth approximately $244 million to cryptocurrency exchange Bitfinex.
Although Bitcoins moving to exchanges usually signals the intention to sell, this does not always mean that there will be a sale.
However, this transfer by the whale was interpreted as an indication that Bitcoin, which was bought at low levels, took action to take profits after its spectacular rise starting from $ 27,000 in October.
According to BitInfoCharts data, this whale accumulated 46,500 Bitcoins at prices below $20,000 between November 2022 and January 2023.
This figure made this whale the 14th largest BTC holder worldwide.
This whale then transferred a total of 36,500 BTC to Bitfinex in late March and early April. After this transfer, the whale continued to accumulate BTC and took advantage of Bitcoin’s drop to $26,000 to accumulate another 2,000 Bitcoins.
*This is not investment advice.
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