RATE Group | Underwater Bitfinex Bitcoin Whale Now Nearly $7 Million in Profit
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Underwater Bitfinex Bitcoin Whale Now Nearly $7 Million in Profit

07 Jan Underwater Bitfinex Bitcoin Whale Now Nearly $7 Million in Profit

Posted at 19:38h in Bitcoin News by

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A Bitcoin whale on the popular cryptocurrency margin trading platform Bitfinex who just weeks ago was underwater to the tune of $25 million, is now topping the exchange’s leaderboards with nearly $7 million in unrealized profit.

Bitfinex Whale Comes Out From Underwater, $7 Million in Profit

Bitcoin price has been in a downtrend since June 2019, but yesterday’s surprise rally may have put an end to months of decline and could send the leading cryptocurrency by market cap back on an upward trajectory.

Yesterday, the cryptocurrency pumped to $8,000 before cooling off and consolidating slightly lower around $7850. The crypto asset was able to take out weekly resistance at $7,500, and a close above it on Sunday could give bullish traders confidence for more upside in the coming weeks.

Related Reading | Bitcoin Price RSI Breakout Could Target $9K Short-Term 

The pump also pushed a lone Bitfinex whale into profit, after spending weeks at as much as $25 million underwater. Following the…

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