The recent activity of a major Bitcoin holder, dormant for 14 years, has caught the attention of analysts and investors, sparking speculation about a possible sell-off.
Whale's Background
Recently, a large Bitcoin whale that had remained inactive for over a decade has started moving its assets. Given that its original holdings were acquired in 2011, this wallet has become one of the oldest and largest in the Bitcoin ecosystem.
Recent Fund Movements
According to blockchain tracking data from Lookonchain, the whale shifted nearly half of its 80,000 bitcoins into new wallets. The initial transfer of 9,000 BTC to Galaxy Digital wallets amounted to about $1.06 billion, followed by another 7,823 BTC, roughly $927 million. The total amount shifted reached 40,009 BTC, approximately $4.68 billion.
Sale Speculations
Large transfers by long-term Bitcoin holders often signal preparations to sell, especially given Bitcoin's recent surge above $123,000. Additionally, data shows that Galaxy Digital has already sent 6,000 BTC to major exchanges, such as Binance and Bybit, reinforcing the idea of a potential sale. Currently, Bitcoin is holding steady around $118,200.
The activity of large whales in the Bitcoin market raises both interest and concern among investors. While fund movements may indicate readiness to sell, the ultimate consequences and the impact of these actions on the market remain uncertain.
