A Bitcoin Whale Moves 3,000 BTC Worth Over $80 Million After Six Years of Inactivity
A Bitcoin whale that has been inactive since 2017 suddenly moved 3,000 BTC, valued at over $80 million. The whale had been accumulating Bitcoin since 2016, acquiring 3,301 BTC in May of that year. In September 2017, it sold 200 BTC during a period of significant price growth. Since then, the whale has remained dormant until recently when it transferred its BTC to two new addresses.
The whale’s address was once worth over $200 million but now holds nearly zero balance due to the recent transaction. The reasons behind the move are unknown.
Bitcoin Whales Entering “Risk On” Mode
Ki Young Ju, CEO of blockchain analytics firm CryptoQuant, highlighted that Bitcoin whales are currently in a “risk-on” mode. This is indicated by the “interexchange flow pulse,” which measures the net flows between Coinbase and derivative exchanges over one year. When this metric increases, it suggests that investors are moving more BTC from spot to derivative exchanges, indicating a willingness to take on more risk.
Hot Take: Bitcoin Whale Shakes Up the Market
A long-dormant Bitcoin whale has suddenly made a significant move in the market by transferring 3,000 BTC worth over $80 million. After years of inactivity, this unexpected action has caught the attention of crypto enthusiasts and analysts alike. The reasons behind the transfer remain unknown, leaving room for speculation and curiosity among industry participants. This event serves as a reminder of the influence large holders can have on the market and highlights their potential to disrupt price stability. As the crypto market continues to evolve, unexpected moves like this will undoubtedly keep investors on their toes.
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