• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Unexpected Bitcoin Whale Activity and Its Market Impact

user avatar

by Giorgi Kostiuk

a year ago


Bitcoin (BTC) is experiencing market volatility, attempting to surpass the $95,000 resistance level. Amidst this, a major Bitcoin whale awoke after six years of inactivity.

Whale Activity Sparks Market Speculation

According to a post from Lookonchain, a whale wallet dormant for 6 years suddenly became active, depositing 500 BTC worth $46.87 million into Coinbase Prime. Although the intention behind this significant deposit is unknown, it often signals a potential intent to sell, considering that Bitcoin was worth around $7,000 six years ago.

Market Implications and Stakeholders' Perspective

Analysts speculate that Bitcoin has entered its distribution phase, and the whale might have plans to sell. Meanwhile, some stakeholders remain optimistic. NBA legend Scottie Pippen claims the current price movement is a 'bear trap' and advises against selling.

Skeptics' Position and Future Outlook

While the whale's exact intentions remain uncertain, the market is keeping a close watch on his potential moves. Another large holder recently became active after 11 years.

So far, Bitcoin whale activity is garnering significant attention and discussion, highlighting its impact on the cryptocurrency market.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Global Economic Risks Identified by Russian Analysts

chest

The Roscongress Foundation outlines various potential black swan events that could impact the global economy, including geopolitical tensions and economic instability in Europe.

user avatarRajesh Kumar

Optimism Governance Approves OP Token Buyback Plan

chest

The Optimism governance community has approved a plan to tie the value of its OP token to the network's financial performance through a buyback program.

user avatarMaria Fernandez

USDC Leads the Downturn in Stablecoin Market

chest

USDC has experienced a significant drop in market capitalization, falling by more than $4 billion over the past ten days due to US-related regulatory uncertainty.

user avatarMiguel Rodriguez

Potential Market Impact of Coinbase and Kalshi Collaboration

chest

The collaboration between Coinbase and Kalshi is projected to create a market impact of $37 billion by 2025 and $10 billion in revenue by 2030.

user avatarLuis Flores

CopperInu Token Faces Significant Volatility Post-Launch

chest

CopperInu token has shown significant volatility post-launch, raising concerns about insider trading.

user avatarMaria Gutierrez

Pi Network Faces Challenges Post Mainnet Launch

chest

The mainnet launch of Pi Network has led to increased pressure on the token due to rising supply and falling demand.

user avatarDavid Robinson

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.