2026-01-09 01:57:07

A Big Whale's WBTC Journey: From Full Confidence to Quiet Exit

Interestingly, 7 hours ago, a wallet address deposited 378.11 WBTC into a major exchange, equivalent to about 34.3 million RMB. On-chain data shows that between October 21 and 26 last year, this individual gradually bought these WBTC at an average price of around $110,000 each. Selling now would definitely result in a loss—at current prices, the loss is close to $7.48 million.

After holding for over three months, they ultimately couldn't withstand the pressure. This move might reveal something: after such a long period of market volatility, even large funds are starting to waver. Could it simply be a risk management adjustment? Or perhaps they are less optimistic about the market's future. Anyway, judging by the deposit activity, this big whale seems ready to exit.

Such situations are not uncommon on-chain. Large WBTC flows to exchanges usually indicate two possibilities: either they are locking in profits or they can't withstand unrealized losses and are cutting losses. Based on this individual's cost basis and current price, it's clearly the latter. The market is like that—no matter how strong the conviction, sometimes even the most steadfast beliefs can waver in the face of account losses.

WBTC-0,09%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

10 Likes

Reward
10
9
Repost
Share

Comment

0/400

NftRegretMachine

· 17h ago

7.48 million dollars in losses... This guy's mentality is really崩了, I can feel that kind of despair.

View OriginalReply0

SelfCustodyIssues

· 22h ago

Still risking 7.48 million USD to top up the exchange after a loss, how broken is this mindset haha

View OriginalReply0

GasFeeSobber

· 01-09 02:26

$7.48 million loss directly stunned me... That's why I never chase highs.

View OriginalReply0

RiddleMaster

· 01-09 02:26

7.48 million dollars loss, now that's called confidence haha

View OriginalReply0

PoetryOnChain

· 01-09 02:25

$7.48 million just disappeared like that, feeling heartbroken, buddy.

View OriginalReply0

AirdropFreedom

· 01-09 02:25

7.48 million dollars lost, this is the price of faith... --- Can't hold back in three months, it really means there's no hope left --- Major players have already given up, and we're still stubbornly holding on? --- Another deep trap tragedy, can't see anything good in it --- This is what you call a live flesh-cutting scene, it hurts --- Depositing funds = accepting fate, even big capital can't withstand it --- Over 7 million USD just evaporated, heartbreaking --- Holding on for three months resulted in even greater losses, this operation is concerning

View OriginalReply0

SchrodingerGas

· 01-09 02:22

$7.48 million in unrealized losses, this is the true collapse of the equilibrium in betting. Major players can't hold on anymore, what does that indicate? It shows that rational expectations have been completely broken.

View OriginalReply0

GateUser-a180694b

· 01-09 02:19

Oh no, 7.5 million dollars just disappeared like that. I feel for this guy in three seconds.

View OriginalReply0

SeasonedInvestor

· 01-09 02:02

Well... 7.48 million dollars just disappeared like that. How much must the mentality collapse to make a move? --- Big players can't hold on anymore, and we're just small investors still stubbornly holding on, what are we doing? --- Losing this much in just over three months, if I had this money, I would have already run away. --- Basically, it's a loss of confidence. Let's see if there are any other big fish fleeing later. --- Haha, this is what you call faith recharge. The moment you deposit into the exchange, you already know the ending. --- 7.48 million, everyone. We can’t earn this in a lifetime of working, but a single move by others can wipe it out.

View OriginalReply0