A series of notable transactions are taking place in the cryptocurrency market. An old Bitcoin wallet, inactive for 12 years, transferred 306 BTC (approximately $35.37 million) today.
This veteran investor purchased the aforementioned BTC for a total value of $23,700 twelve years ago, when Bitcoin was only priced at $77. At the current price, that investment is worth approximately 1,493 times.
However, such profit-taking creates a cautious mentality for investors. Historical data shows that August and September are usually weak months for Bitcoin. Over the past 12 years, BTC prices have fallen in eight of these months. This indicates a likelihood of decline of 67%.
Meanwhile, whale activity has also been recorded on the Ethereum front. A whale named '0xF436' has withdrawn a total of 14,520 ETH (approximately $53 million) from exchanges in the past nine hours. This transaction occurred after the whale acquired SharpLink Gaming for a large amount of 38,606 ETH (approximately $148.44 million) just five days ago.
Another notable move comes from a whale with the short address '0xd8d0'. This whale has spent a total of $178.36 million USDC in the past five hours, buying 893 BTC ($103.5 million) and 20,000 ETH ($74.06 million). The transaction was carried out through Wintermute and Coinbase.