đ Bitcoin Whale Shifts 50,000 BTC in One Day â Is Volatility on the Horizon?
A dormant Bitcoin whale moved 50,000 BTC for the first time in 14 years, over the daily high of 3,700 BTC.
Bitcoin falls below $108,000 after briefly topping $110,000 on Thursday.
Since early June, exchange volume momentum has decreased to $5.9 billion, signaling investor weakness and network delay.
After 14 years, a dormant wallet moved 50,000 Bitcoin (BTC) in one day, making headlines on Friday. The $5.4 billion transaction intrigued crypto aficionados. A wallet address from an early Bitcoin miner started it.
Bitcoin is down almost 2% at $107,578 during the American session. After reaching $110,530 on Thursday, the rise stalled due to negative market mood.
Bitcoin recovers when a whale moves 50,000 BTC.
Unverified claims say the Bitcoin miner has 161,326 BTC at the same address. After transferring 50,000 BTC in numerous installments, 120,326 BTC remains unmoved 14 years later.
Whale bitcoin transactions | CryptoQuant via X
CryptoQuant reported that 50,000 BTC was transferred on Friday, beating the previous record of 3,700 BTC. âSome coins trace back to early miner block rewards,â CryptoQuant noted.
Bitcoin's Friday plunge might continue over the weekend if investors cut their exposure in anticipation of a bigger collapse. With the 90-day tariff respite declared by US President Donald Trump coming on July 9, macroeconomic uncertainty remains high.
According to Glassnode, trade volume has dropped to $5.9 billion per month since early June. Despite the dip, exchange activity is 7% over the yearly average of $5.5 billion.
Technical outlook: Can Bitcoin reach record highs in July?
The 8-hour chart below shows Bitcoin's price still negative after breaking below the same declining trendline it crossed on Thursday.
If the slide accelerates, the 50- and 100-period Exponential Moving Averages (EMAs) around $106,827 and $105,896 will absorb overhead pressure.
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