IU.Today – , the largest cryptocurrency by market value, reached $ 60,000, reaching $ 60,660 in Saturday trading. The attack marked a reversal of September's losses amid fears of a US recession.
The price of Bitcoin rose on Friday, reaching $60,770, its highest level since early September, as traders became hopeful that the Federal Reserve's next meeting could release a moderate rate hike.
The gains were sustained as of press time Bitcoin is up 3.27% in the last 24 hours to $59,835.
As Bitcoin touched the $60,000 mark, on-chain analytics platform Lookonchain reported that seven wallets that have been around for more than one year and may belong to the same whale have added 203 BTC worth $12.18 million to Binance in the past few hours for a profit of $6.89 million. .
Entering money into a trade usually indicates an intention to sell while withdrawing may mean buying. According to Lookonchain the said Bitcoin whale bought said 203 BTC worth $5.29 million between March 10 and Aug. 7, 2023.
Whales are moving
According to on-chain data sources, Bitcoin whales have made incredible moves, buying and selling in the last 24 hours, which coincides with the rise of Bitcoin above $60,000.
According to Lookonchain, after the BTC price broke $60,000, the Bitcoin whale bought another 1,062 BTC worth $63.96 million. The whale currently holds 10,043 BTC worth $603.84 million.
Similarly, in profit taking, the BTC swing trader placed 205 BTC worth $12.4 million on Binance, making a total profit of $2.36 million.
Bitcoin business owner MicroStrategy revealed another 18 purchases, worth $1.11 billion for $60,408 between August 6 and September 12.
MicroStrategy currently holds 244,800 BTC worth $14.15 billion, and the average buy price is $38,585. At current prices, profits will reach $4.71 billion.
This article was originally published on U.Today
