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- On Monday, the whale sent 360 BTC (equivalent to $9.8 million) to a single wallet.
- There are still 600 BTC in the wallet.
While the price of Bitcoin fell for three days in a row last week, some “whales” who had been sitting on large sums of the cryptocurrency activated their inactive wallets. The asset’s price usually rises in tandem with this pattern.
However, this might also be seen as large traders seeking to get out at the present price in preparation for a potential bear run in the days ahead. After 12 years with no Bitcoin transactions, a “Whale” from the Satoshi era has transferred 400 BTC, valued at around $11 million.
Whales Relocating Assets
On Monday, the whale sent 360 BTC (equivalent to $9.8 million) to a single wallet and another 40 BTC to many other addresses. There are still 600 BTC in the wallet. Recently, this has grown more widespread as formerly dormant whale populations have been “waking up” and relocating their assets.
Following a 10-year hiatus, a “whale” recently transferred 279 Bitcoins (worth around $7.6 million) to fresh wallets.
Earlier this year, the number of Bitcoin “whales,” or those with more than 1,000 BTC, fell to its lowest level in three years. BTC whales have once again shown their superiority as investors through their recent actions.
The largest crypto by market cap has increased in value by over 40,000% over the last decade, and patient investors may earn millions. Bitcoin’s price is at $27,404.64, a drop of 7.10% in the last week, as per CMC. But the forthcoming BTC halving may significantly alter its value. The value of Bitcoin may also be affected by future interest rate increases.