$BTC Blockchain intelligence firm Arkham has said that the $8.6 billion worth of Bitcoin (BTC) moved last week does not seem to be heading for a sell-off. Arkham believes that the transfers may be the owner upgrading from the original legacy wallet to a Native SegWit address, which offers improved security and lower fees. 

“There are no indications that this whale is selling Bitcoin. Yesterday’s $8 billion transfers were possibly related to address upgrades, moving from 1-addresses to bc1q-addresses.”