#BTCWhaleMovement Bitcoin whale movements have been quite active recently. A dormant Bitcoin whale that had been inactive for 14 years suddenly moved 50,000 to 60,000 BTC, worth around $5.4 to $6.5 billion. This whale originally acquired the Bitcoin stash at an average price of $2 per coin and still holds around 80,000 BTC.
Recent Whale Movements
- Massive Transfers: Two Bitcoin wallets, each holding 10,000 BTC, transferred their funds to modern addresses within a 30-minute window, sparking speculation about potential hacking or compromise.
- No Exchange Activity: Despite the massive transfers, there's no indication that the funds were sent to exchanges, suggesting the whale might be restructuring its storage or preparing for a strategic move.
- Multiple Whales Active: Eight wallets, each associated with early Bitcoin miners, have moved over $8 billion worth of BTC, with six more wallets moving funds 2 days after the initial transfers ¹ ² ³.
Market Impact:
- Volatility Expected The large transfers could lead to increased market volatility, but the current netflow ratio suggests accumulation, potentially foreshadowing a price rally.
Bitcoin Price BTC's price has been fluctuating, trading at around $107,578 to $108,000, with a technical bearish bias and potential for further decline ³ ⁴.
