According to data from Bitinfocharts, a certain wallet address has purchased 11,268 BTC worth $424 million since November 10 and is currently the 74th largest holder of BTC.
Prices for these transactions, including a recent purchase of 875 BTC, ranged from $36,000 to $38,000, meaning that at Bitcoin’s current price level of just under $38,000, the wallet owner would have made a profit of approximately $9.8 million. .
Some industry insiders speculate that the wallet may be related to a U.S. asset management giant's preparations for the launch of a spot Bitcoin ETF, but it is unclear whether such "advance trading" is allowed. (CoinDesk)