Satoshi-era Bitcoin whale transfers another $1.1 billion to cryptocurrency exchanges.👀

According to blockchain analysts, the sale of $9.6 billion could be absorbed by the crypto markets without a significant impact on the market.

A long-dormant Bitcoin whale (since the Satoshi era) has transferred over $1.1 billion in Bitcoin to centralized exchanges in recent hours, raising concerns about a possible market correction during a weekend when liquidity is usually low.

After holding its reserves since 2011, the Satoshi-era whale, or large cryptocurrency investor, first transferred 40,000 Bitcoins $BTC worth over $4.6 billion on July 15, followed by a second transaction of 40,000 BTC on July 18 to Galaxy Digital, Cointelegraph previously reported.

According to the blockchain intelligence platform Lookonchain, Galaxy Digital has since transferred over 10,000 $BTC , worth about $1.18 billion, to major cryptocurrency exchanges including Binance, Bybit, Bitstamp, Coinbase, and OKX.

"The over 10,000 BTC comes from the Bitcoin whale, which holds 80,009 BTC ($9.68 billion)," Lookonchain stated on X.

The whale's multimillion-dollar transfers, along with new auditing requirements imposed by the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), have raised concerns among industry observers about a possible Bitcoin correction.

"That alone will burst the largest bubble and fraud in financial history: Bitcoin.

It is fully backed by fake money printed out of thin air," said Jacob King, financial analyst and CEO of WhaleWire, in a post on X on July 18.

However, from a historical perspective, "the movements of inactive whales have not systematically preceded significant market corrections.