Bitcoin Trader Turned $27.5 Million $WBTC Trade Into $36.4 Million, Nets $8.93M Profit

A trader leveraged Bitcoin's price surge, turning 377 WBTC worth $27.5M into $36.4M, pocketing $8.93M in profits. The trader retains 147 WBTC, with unrealized profits of $4.61M, showing strong market timing and portfolio strategy.

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Pardon Joshua
Pardon Joshua
Pardon Joshua is a seasoned crypto journalist with three years of experience in the rapidly evolving blockchain and digital currency space. His insightful articles have graced the pages of reputable publications such as CoinGape, BitcoinSensus, and CoinGram.us, establishing him as a trusted voice in the industry. Pardon's work combines in-depth technical analysis with a keen understanding of market trends, offering readers valuable insights into the complex world of cryptocurrencies.

The recent news earlier today highlights the trading prowess of a savvy Bitcoin investor who has managed to turn a sizable WBTC position into substantial profits. 

SOURCE: ARKHAM

According to on-chain analyst Ai Yi’s monitoring, this “smart money” trader initially opened a position of 377 WBTC, worth approximately $27.5 million, at an average price of $72,926 per WBTC back in October 2024.

Capitalizing on Bitcoin’s Price Surge

As Bitcoin’s price surged to new highs in the past week, the trader is suspected to have sold 150 WBTC at an average price of $101,727, netting an estimated profit of $4.32 million from that transaction alone. 

As at time of reporting the price of Wrapped Bitcoin (WBTC) is $104,418. This represents a 14.68% price increase in the past month and a 6.39% price increase in the past 7 days. Wrapped Bitcoin is valued at a market cap of $14.1 Billion.

SOURCE: Coinmarketcap WBTC Price

This timely trading strategy, taking advantage of Bitcoin’s price appreciation, has proven highly lucrative for the investor.

Substantial Unrealized Profits Remain

Even after the recent sale, the trader still holds 147 WBTC in their address, currently valued at around $14.9 million. 

With the average purchase price being $72,926 per WBTC, the remaining position has a substantial floating profit of $4.61 million, demonstrating the trader’s ability to identify optimal entry and exit points in the market.

Also Read: ETH Whale Shorts BTC Again, Borrows 420 WBTC from Aave and Sells for $43.4M USDT at $750K Unrealized Loss

A History of Successful WBTC Trading

This is not the first time this trader has capitalized on WBTC trading opportunities. 

The report indicates that the same address had previously established a position of 377 WBTC (worth approximately $27.49 million) and sold a portion at an opportune time, netting a profit of $14.26 million. 

The latest transaction, yielding an additional $8.93 million in profits, further solidifies this trader’s reputation as a savvy market participant capable of consistently identifying and executing profitable trading strategies.

This case study highlights the potential for skilled traders to generate significant returns in the volatile cryptocurrency market, particularly by closely monitoring asset prices and making timely trading decisions. 

The ability to buy at low prices and sell at high prices, as demonstrated by this trader, is a hallmark of successful investment strategies in the digital asset space.

Also Read: Bit Global Claims Coinbase Suspends Trading of Wbtc to Boost Its Own Bitcoin Wrapper

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