#BTCWhaleMovement Ancient wallets awaken

In the last 24 hours, seven 'ancient' Bitcoin wallets, created back in April-May 2011, have been activated and moved 70,000 BTC (approximately $7.6 billion at the current exchange rate). 14 years ago, cryptocurrency was trading below $4 — now its value has increased by 27,500 times.

The coordinated actions suggest that the owner of the moved bitcoins is one major player. It could be an early miner or an institutional custodian. One of the transfers of 9,000 BTC combined 180 block rewards of 50 BTC each — this is a clear trace of solo mining from 2010-2011.

The user split the amount into 12 transactions — each for 10,000 BTC. The cluster of wallets has been labeled by analysts as 'BTC Whale 4th July' — a nod to the United States Independence Day. The activity on the fourth of July may not be a coincidence: in the past, whales have also synchronized transactions with historical dates.

So far, the holder has not sold a single coin. The market immediately reacts to significant movements of assets. If the whale decides to sell its bitcoins, it will create tremendous pressure on the BTC price and lead to a drop in the cryptocurrency.