A large holder recently got caught. This individual, during the first rebound after BTC's peak in late October last year, bought 264.86 WBTC in batches through on-chain address 0x8C0…0F364. The average entry price was $113,012.84, investing nearly $30 million all at once.

Unexpectedly, after three months of holding, instead of doubling, the value kept shrinking. Just four hours ago, this big holder couldn't hold back during the price rally and transferred all WBTC to a major exchange, with a transaction price of $93,823. Doing the math—the difference between the entry and exit prices—he took a significant loss.

This move sharply contradicts all the narratives about buying the dip. It seems that even the most savvy on-chain wallets can't always escape the market’s ruthlessness. This large transfer of WBTC serves as another lesson for those observing whale movements in the market.