Trader Profits $6.85M from BTC Rally Despite Timing Missteps
11/20/2024 2:59:02 AM
According to Lookonchain, a trader capitalized on the Bitcoin rally, securing a profit of $6.85 million. Initially, between November 6 and 8, the trader sold 619 Wrapped Bitcoin (WBTC) for $46.44 million at a price of $75,029 each, realizing an $8.85 million gain. However, the trader sold too early as Bitcoin surged past $80,000. In response, they repurchased 562 WBTC for $45.46 million at $80,895 each before selling again. (Source)
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