Four-Year WBTC Holder Sells 90 WBTC for $9.65M Profit
On-chain data show a whale accumulated 1,074 WBTC four years ago. In the past hour, the address moved 90 WBTC. At the current price of about $32,000 per token, this transfer could realize roughly $9.65M in profit. Wrapped Bitcoin (WBTC) is an ERC-20 token pegged to Bitcoin (BTC).
This profit-taking move may introduce short-term selling pressure on WBTC and the wider crypto market. Historical whale sell-offs often trigger brief price dips. However, this 90 WBTC sale represents a small fraction of total WBTC supply. Traders should monitor order books and on-chain flows for further insights and to gauge market sentiment.
Bearish
Profit-taking by a four-year whale moving 90 WBTC for a $9.65M gain likely exerts short-term bearish pressure on WBTC prices. Historical patterns show large on-chain sales can trigger brief dips. However, the sale size is a small portion of total WBTC supply, suggesting limited long-term impact. Traders should watch order books and on-chain flows to assess market responses.