Whale Address reduced holdings of WBTC at a high position, earning over 3 million dollars in three hours.

On-chain monitoring data shows that Address 0xC79...12bE7 recently concentrated its sale of 175 WBTC within three hours, with an average transaction price of $92,444.59, totaling approximately 118 million RMB. This address accumulated its position at an average price of $74,746.46 from August to October 2024, realizing a paper profit of $3.097 million in this reduction.
It is worth noting that although this operation was quite profitable, the address did not choose to cash out in the peak price zone of Bitcoin, and the corresponding profit drawdown is estimated to exceed $5.9 million. Currently, the address still holds 491.84 WBTC, and the market is paying attention to its subsequent movements.
This large-scale reduction occurred during a period of high volatility in Bitcoin prices, which may be a typical manifestation of institutional asset rebalancing strategies. Given that this Address still holds a large position, its trading behavior may reflect a risk aversion to short-term market fluctuations rather than a shift in long-term trends. Investors need to closely monitor subsequent on-chain capital flows and changes in market sentiment. #逆势上涨币种推荐