Ethereum

Wrapped Bitcoin

Galaxy

Bitcoin

Million

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-whale-dodges-26-47-million-liquidation" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Whale Dodges $26.47 Million Liquidation</a><br></p>
<p style="text-align: justify">A crypto whale holding a $26.47 million position in Wrapped <a href="https://en.bitcoinhaber.net/bitcoin-price-surges-past-63000" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (WBTC) narrowly avoided liquidation last week. The incident occurred as Bitcoin’s price dropped to $52,550 on September 6, according to <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> from on-chain tracker Lookonchain. The whale, identified by an Ethereum address beginning with Oxceef, faced the risk of liquidation on the Compound platform.</p>
<h2 id="liquidation-danger">Liquidation Danger?</h2>
<p style="text-align: justify">Lookonchain reported that the whale held 488.45 WBTC on Compound, with a health ratio of 1.07 and a liquidation price set at $50,429. Notably, this whale was previously liquidated three times during the 2022 market downturn, losing a total of 74,426 cWBTC, equivalent to $32.82 million.</p>
<h2 id="what-about-sales-and-purchases">What About Sales and Purchases?</h2>
<p style="text-align: justify">Lookonchain also noted that several addresses sold Bitcoin as its price declined last week. For instance, a wallet starting with 3ExiBLw sold 100 BTC for $5.35 million, making a profit of $206,000. Conversely, data from analytics firm IntoTheBlock revealed that approximately 836,000 addresses purchased around 402,800 BTC, valued at $21 billion, in the price range of $51,113 to $54,303.</p>
<h2 id="key-insights">Key Insights</h2>
<p style="text-align: justify">– The whale’s liquidation price was $50,429, narrowly avoided at Bitcoin’s dip to $52,550.<br> – The whale previously faced three liquidations in 2022, totaling $32.82 million in losses.<br> – Some <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> sold Bitcoin during the price drop, while many others bought significant quantities.<br> – Galaxy Digital moved over $78 million worth of Bitcoin to Coinbase Prime, possibly for security or sale.</p>
<p style="text-align: justify">Additionally, Lookonchain detected that Galaxy Digital transferred 1,458 BTC (worth over $78 million) to Coinbase Prime, suggesting possible intentions for either security purposes or selling on the open market. At the time of reporting, Bitcoin was trading at $54,987.</p>
<p style="text-align: justify">These data points are crucial for understanding the actions of major players in the crypto market and the associated market dynamics. Particularly, the risk of liquidation and strategies of large investors can significantly influence market movements.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/crypto-whale-dodges-26-47-million-liquidation" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Whale Dodges $26.47 Million Liquidation</a></h5>

Crypto Whale Dodges $26.47 Million Liquidation

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