Swing Trader Makes $1.04M in WBTC with Perfect Strategy

• A retail trader earned $1.04M from swing-trading WBTC with a perfect 100% win rate over nine months.
• MicroStrategy acquired 18,300 BTC worth $1.11B, reaffirming its long-term commitment to Bitcoin accumulation.

A retail trader recently made news for earning an amazing $1.04 million from swing-trading Wrapped Bitcoin (WBTC) over the last nine months, with a perfect 100% win rate. According to SpotOnChain data, the trader’s most recent transaction involved selling 60 WBTC for 3.62 million USDT less than 24 hours ago.

This was the seventh successful trade, and the trader is still holding 20.6 WBTC, which is today worth $1.24 million. The trader’s steady profitability is impressive, especially given the volatility of the cryptocurrency market.

This retail trader made $1.04M from swing-trading $WBTC with a 100% win rate over the past 9 months!

Notably, the trader’s latest action was selling 60 $WBTC from the ongoing 8th trade for 3.62M $USDT near the peak ~10 hours ago, leaving 20.6 $WBTC ($1.24M) remaining.

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— Spot On Chain (@spotonchain) September 18, 2024

Whale Profits and MicroStrategy’s Continued Bitcoin Commitment 

Beside that, there has been a focus on another major player in the Bitcoin market. As we previously reported, a dormant whale returned to the market after five months of inactivity, selling 200 BTC and profiting by more than $168 million. This action indicates that even experienced investors use smart timing to maximize earnings.

This action occurred at a time when Bitcoin received $436 million in inflows, indicating increased investor optimism for the top crypto. Meanwhile, Ethereum had outflows, mostly due to concerns about the viability of Layer 1 solutions, demonstrating divergent emotions between the two major blockchains.

Previously, CNF has reported that MicroStrategy, led by co-founder Michael Saylor, bought 18,300 BTC for $1.11 billion between August 6 and September 12, 2024. This transaction solidifies Saylor’s long-standing commitment to Bitcoin, since he personally owns $1 billion worth of the cryptocurrency and intends to buy considerably more.

Meanwhile, at the time of writing, the BTC price is trading around $62,097.86, up 2.73% over the last 24 hours, propelled by the recent Fed rate cut.