On November 2, a noteworthy transaction in the cryptocurrency space was observed, as reported by COINOTAG. Lookonchain’s analytical tools revealed that a prominent whale investor capitalized on the recent dip in Bitcoin prices, acquiring 500 BTC at an average valuation of $69,799, totaling approximately $34.9 million. This strategic purchase comes in the wake of an earlier investment on June 22, 2023, where the same investor had secured 501 BTC for about $15.15 million at a significantly lower price of $30,233. Consequently, this recent acquisition positions the whale with an impressive unrealized profit of $19.8 million. Such transactions highlight the ongoing volatility and investment patterns within the crypto market, showcasing the opportunistic behavior of seasoned investors amidst price fluctuations.
Source: https://en.coinotag.com/breakingnews/whale-accumulates-500-btc-at-69799-amid-bitcoin-price-drop-a-strategic-move-worth-34-9-million/