Whale of a Time! BTC Bags Billions!

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It has come to our attention, through the diligent observations of Lookonchain, that a certain entity of considerable means is, with some alacrity, acquiring Bitcoin (BTC) from the bustling emporium of Binance. One might almost suspect a concerted effort! 🧐

Indeed, Lookonchain reports that a crypto whale, a veritable leviathan of the digital seas, has lately amassed 1,350 BTC, a sum amounting to $141.91 million. This brings his total holdings to a staggering 20,723 BTC, valued at no less than $2.19 billion. One shudders to think of the annual income! 🤑

This deep-pocketed investor, clearly not one to shy away from a bargain, is but one among several whales who are suddenly seized with the urge to accumulate the flagship crypto asset, now that BTC has, with a certain boldness, returned to trading above $100,000. One hopes they have consulted their advisors. 🤔

As Lookonchain so succinctly puts it:

“Many whales are accumulating BTC…

bc1qpu (linked to Abraxas Capital) withdrew 675 BTC ($71.03 million) from Kraken [Monday] and currently holds 1,797 BTC ($190.11 million).

A newly created wallet ‘bc1q5k’ withdrew 500 BTC ($51.58 million) from Binance [Sunday].”

It appears that even Abraxas Capital Management, based in the United Kingdom, is not immune to the siren call of digital currency, for they are also, according to Lookonchain, acquiring Ethereum (ETH) with considerable enthusiasm. 🙄

“After a three-day break, Abraxas Capital accumulated 46,295 ETH ($115.3 million) again. Since May 7th, Abraxas Capital has accumulated 350,703 ETH ($837 million) at an average price of $2,386, with an unrealized profit of $50 million.”

However, not all are riding the crest of this digital wave. Lookonchain informs us that one unfortunate soul, having taken a dim view of the crypto market, is now contemplating losses in the region of $2 million. One might suggest a change of strategy! 😅

“As the BTC price rises, this whale who shorted BTC, ETH and SOL with 10x leverage is now down ~$1.71 million on BTC. [On Monday], he deposited another four million USDC into Hyperliquid to increase his BTC short and average up his entry while lowering liquidation risk.”

At the time of writing, Bitcoin is trading for $105,278, holding steady for the day. Meanwhile, Ethereum is trading for $2,482, a modest increase of 1% in the last 24 hours. One trusts that all investments are being made with due prudence. 🧐

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2025-05-20 21:21