Whale Exits WBTC Position After Rebounding in May, Secures $127,000 Profit

A whale that built a WBTC position during the rebound in May has exited the trade after at one point sitting on an unrealized loss of $1.423 million. According to BlockBeats On-chain Detection, the whale bought 78 WBTC on May 19 at an average price of $76,824. The position was opened on-chain for about $5.99 million, and the price continued to fall soon after the purchase, with the asset’s value dropping as much as 24% at its peak. The whale eventually held until the position turned profitable and sold all holdings 9 hours ago at $78,463, locking in a final profit of $127,000.