In a new update, Lookonchain, the on-chain data monitoring platform, has drawn attention to a bitcoin whale that bought 1,768 BTC at a price of $74,603 per bitcoin before the bull market. At that entry price, the total value of the position was approximately 132 million dollars. The address, however, failed to sell at the best moment. When the market reached its high, the unrealized profit on the position was as much as 91 million dollars, based on Lookonchain's monitoring. Now, according to the latest on-chain data, that same position has swung to a loss of 19.7 million dollars. The tracker also shows that the wallet has transferred 114 BTC to the Kraken exchange. The transferred coins were valued at around 7.24 million dollars. Lookonchain said in its update that the bitcoin may be sold. The figures provided by Lookonchain point to a position that has moved from a large unrealized gain to a significant loss over time.
Lookonchain data shows a bitcoin whale that bought 1,768 BTC at $74,603 apiece before the bull market, putting the position's total value at roughly $132 million. The wallet missed the best window to sell. At the market peak, its unrealized gain reached $91 million; that has since reversed into a $19.7 million loss.
The same address has now moved 114 BTC, worth about $7.24 million, to the Kraken exchange. Lookonchain said the coins may be put up for sale.
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