Bitcoin fell from above $119,000 to around $117,600 on Monday night after a wallet tied to a long-dormant whale transferred around 9,000 Bitcoin worth over $1 billion to Galaxy Digital.
The transactions were first flagged by blockchain analytics platform Spot On Chain. Despite the outflow, the wallet still holds approximately 11,000 BTC, valued at $1.3 billion at the time of writing.
Earlier in the day, the Satoshi-era whale moved $2.4 billion in Bitcoin to a new address, fueling renewed speculation around their activity.
