Crypto Whale Bags $8.9M Profit, But Lost All After Buying Back at Higher Price

The post Crypto Whale Bags $8.9M Profit, But Lost All After Buying Back at Higher Price appeared first on Coinpedia Fintech News

A recent move by a whale trader has captured attention, showing both profit-taking and a costly re-entry. According to data from Lookonchain, this whale initially sold 619 Wrapped Bitcoin (WBTC) worth $46.48 million four days ago for $75,029, securing a profit of $8.9 million. However, after Bitcoin’s price surged past $80,000, the whale repurchased 562 BTC at $80,895, spending $45.48 million on the buyback. The trader’s early sale now appears premature, as the re-entry came at a higher price, potentially cutting into profits.