When massive whales move in the sea, they create ripples in the water. Similarly, the movement of large holders of Bitcoin – known as "crypto whales" – creates a stir on social media, as observers wonder whether this movement is a precursor to a sell-off that could lead to downward price fluctuations.
Early Friday morning, two digital wallets holding the addresses "12tLs...xj2me" and "1KbrS...AWJYm" transferred 20,000 Bitcoin units, valued at over $2 billion, to new addresses. These movements were first detected by the account "Whale Alert" specializing in tracking blockchain transactions, and later confirmed by the platform "Lookonchain". These addresses had received Bitcoin for the first time on April 3, 2011, when the price per unit was only about 78 cents.
Currently, the price of Bitcoin exceeds $109,000, which means a staggering return of over 140,000 times for the aforementioned wallets. This massive growth provides a strong incentive for holders of these quantities to liquidate their assets and realize huge profits. It is noteworthy that many long-term Bitcoin holders have started selling their coins since the price surpassed the $100,000 mark last May.
However, the recent transfers were made to addresses not linked to cryptocurrency exchanges, and no subsequent movements from these addresses have been recorded since they received the coins. Therefore, it is too early to assert that the purpose of this operation is to sell or take profits at this time.
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