A Bitcoin whale inactive for 14.5 years has just transferred 108 BTC worth approximately 12.42 million USD to a wallet related to Wintermute.
This whale's wallet currently holds 3,360 BTC, equivalent to about 385 million USD. The previous test transaction of 0.001 BTC indicates the possibility of continued selling.
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The 'ancient' Bitcoin whale that has been inactive for 14.5 years has just made a transaction of 108 BTC.
The remaining BTC in the whale's wallet amounts to 3,360 BTC, with a value equivalent to 385 million USD.
The test transaction of 0.001 BTC recorded indicates the possibility of imminent selling.
What is an 'ancient' Bitcoin whale and how has it operated recently?
According to on-chain analyst @ai_9684xtpa, this Bitcoin whale has not moved its wallet for 14.5 years. This is a rare sign, indicating steadfastness or waiting for suitable market conditions.
The fact that a whale holds nearly 4,000 BTC without trading for a long time somewhat reflects confidence in the long-term value of Bitcoin. However, the recent transfer of 108 BTC to a wallet related to Wintermute marks a significant change in behavior.
What is the significance of transferring 108 BTC to the wallet related to Wintermute?
This move can be seen as a preparation step for selling or converting assets, as the previous test transaction of 0.001 BTC shows caution and testing the sending and receiving mechanism.
Wintermute is known as a professional liquidity provider in the cryptocurrency market, so transferring BTC to a related address indicates that the whale has specific plans to leverage liquidity from the market.
The gradual experimentation with small transactions helps ensure safe and effective operations when transporting large amounts of assets, minimizing the risk of error in money transfers.
On-chain analyst @ai_9684xtpa, 5/8/2024
How much BTC does the whale's wallet still hold and how does that affect the market?
This wallet currently holds 3,360 BTC, worth approximately 385 million USD at current prices. This is a large volume that could exert significant pressure on the market if sold en masse.
When whales tend to sell, this often causes the Bitcoin price to fluctuate sharply due to the sudden increase in supply, affecting investor sentiment and market liquidity.
How have whale sell-offs historically affected the market?
In previous cycles, the selling activity of whales often caused the Bitcoin price to drop sharply in the short term but simultaneously created attractive buying points for long-term investors.
Such actions also contribute to shaping bull and bear market phases, affecting trends and overall liquidity in the cryptocurrency sector.
Frequently Asked Questions
What are Bitcoin whales?
Bitcoin whales are individuals or organizations that own large amounts of Bitcoin, significantly influencing the cryptocurrency market due to their large transaction volumes.
Why do whales hold Bitcoin for a long time without trading?
They often hold for long-term investment purposes or wait for favorable market conditions to sell, while minimizing the risk of short-term price volatility.
What does transferring BTC to Wintermute's wallet mean?
Wintermute provides professional liquidity, so transferring BTC indicates the whale's plan to use liquidity or sell soon.
How does a whale's sale of Bitcoin affect the price?
Whales' selling activities often create significant supply pressure that lowers prices in the short term but also opens up good buying opportunities for other investors.
How to know if a whale is transferring money?
Through on-chain analyses on the Blockchain, experts monitor whale wallets and analyze large transactions to assess market behavior.
Source: https://tintucbitcoin.com/ca-voi-bitcoin-chuyen-108-btc-wintermute/
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