According to a new report, a Bitcoin "whale" has "awoken" after 10 years of hibernation, moving 3,000 BTC worth over 349 million USD. This action comes amid a backdrop of Bitcoin prices declining from their all-time highs in mid-July.

"Whale" active again

Blockchain data shows this whale transferred 100 #BTC from 30 different addresses to a series of new addresses. This is one of the recent activities of long-term investors who have held Bitcoin for many years without any movement.

The movement of whales often attracts market attention as it can signal potential selling pressure when these investors take profits after a long holding period. However, the market has also recently seen similar instances where another whale sold a large amount of BTC but was bought back by major companies, indicating strong buying power from institutions.

Impact and outlook

While some investors are concerned about the potential for profit-taking, the movement of whales also indicates that market liquidity remains strong enough to absorb large transactions. Even though Bitcoin prices are stabilizing, these developments show that the market is still active and large investors are closely monitoring it. This underscores the importance of tracking on-chain data to gain a better understanding of market sentiment. #anhbacong