Bitcoin whale loses $13 million in just 6 days

A bitcoin whale lost $13 million in 6 days trading btc after a series of bad decisions made over the last week.

At the same time as the whale's trading decisions, the price of bitcoin suffered a 5% correction. This pullback continued in the last 24 hours, resulting in <a target="_blank" href="https://coinmarketcap.com/currencies/bitcoin/”>btc trading at $93,710.19 at 2:47 am EST.

<img decoding="async" class="alignnone" src="https://www.newsbtc.com/wp-content/uploads/2024/05/bitcoin-whale.jpeg?fit=1792%2C1024″ alt=”bitcoin” width=”1792″ height=”1024″/>

bitcoin Whale Suffers Major Loss on Binance

He bitcoin The whale trades were highlighted by on-chain analytics platform Lookonchain. In a January 13

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6 days ago, a whale withdrew 1,850 <a target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc($188.7 million) <a target="_blank" href="https://twitter.com/hashtag/Binance?src=hash&ref_src=twsrc%5Etfw”>#Binance at $101,998.

8 hours ago, the whale deposited 1,850 <a target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc(175.7 million dollars) to <a target="_blank" href="https://twitter.com/hashtag/Binance?src=hash&ref_src=twsrc%5Etfw”>#Binance at $94,963.

Lose 13 million dollars in 6 days.https://t.co/sVYcWVjpqh pic.twitter.com/2lokPJTpmJ

— Lookonchain (@lookonchain) <a target="_blank" href="https://twitter.com/lookonchain/status/1878635299011731911?ref_src=twsrc%5Etfw”>January 13, 2025

In the last 24 hours, the whale deposited the same amount of bitcoin on the centralized exchange, this time with the btc price at $94,963. This resulted in a loss of $13 million, according to Lookonchain.

More patience could have generated profits for the whale

While the crypto whale flagged by Lookonchain might have panicked and sold off, analysts maintain a bullish outlook for the flagship cryptocurrency. Pseudonymous analyst and trader Rekt Capital told his more than 529,000 followers on x that bitcoin is in its “first price discovery correction.”

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<a target="_blank" href="https://twitter.com/hashtag/btc?src=hash&ref_src=twsrc%5Etfw”>#btc

bitcoin is in its first price discovery correction

Here's a look at the first historical price discovery corrections:

2013: -75% in 13 weeks

2017: -34% in 3 weeks

2021: -31% in 4 weeks

2025: -15% in 4 weeks so far

Of course, 2013 is a clear outlier.

Maybe 2017 and…

-Rekt Capital (@rektcapital) <a target="_blank" href="https://twitter.com/rektcapital/status/1878062462907330862?ref_src=twsrc%5Etfw”>January 11, 2025

In a Jan. 11 x post, he said that the recent 15% correction in bitcoin price has been “much shallower” when looking at “historical first price discovery corrections.”

Renowned trader and analyst Michael van de Poppe echoed a similar sentiment in a January 11 x post. “I hope we move up from here,” he said. <a target="_blank" href="https://x.com/CryptoMichNL/status/1877997295213359377″>saying.

The bullish outlook from both analysts aligns with current investor sentiment in the cryptocurrency market. crypto Fear and Greed Index Currently <a target="_blank" href="https://alternative.me/crypto/fear-and-greed-index/”>is found at 61, indicating “greed” in the market. this is slightly below from last month's reading of “Extreme Greed” 83.

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