Whale Begins BTC Accumulation as Part of $60 Million Plan, According to On-Chain Monitoring

BlockBeats reported on September 2 that a whale address beginning with 0xe2ad, which had previously placed a BTC buy plan below the market for about $60 million and was later adjusted from roughly $80 million, saw its first fills early this morning. According to BlockBeats On-chain Detection, the address passively bought 121.53 BTC for about $9.3 million at an average price of $76,499.5, accounting for about 15.4% of the total plan. As of press time, the address holds a 20x leveraged long position of 121.53 BTC worth about $9.39 million, with a combined cost of $76,499.5 and unrealized profit of about $89,000, representing a return of about 19.1%. The address still has 17 non-reducing limit orders in place and plans to buy another 671.04 BTC for a notional value of about $50.88 million. The orders are concentrated between $75,479 and $76,245, with a weighted average order price of about $75,821.5, or about 1.3% to 2.3% below the current price. If all remaining orders are filled, the address's BTC long position would rise to about 792.58 BTC. Based on the executed trades and existing orders, the full plan is estimated at about $60.18 million, with a combined cost of about $75,925.5.