coindesk.com
A bitcoin
whale holding more than 80,000 $BTC sold a chunk their hoard following bitcoin's ascent to an all-time high around $123,000 on Monday.
The user, who mined the cryptocurrency during the earliest days of the industry — a period known as the Satoshi era after the pseudonymous bitcoin creator — sold 9,000 $BTC ($1 billion) via Galaxy Digital, Lookonchain posted on X.
Users with particularly large amounts of $BTC, known to as whales, have the ability to move the market when they buy or sell bitcoin because of the substantial number of tokens involved.
Satoshi-era bitcoin whales are closely monitored by traders for market signals, particularly when the $BTC in their wallets has not moved for a number of years.
The Satoshi era refers to a loose period of between 2009 and 2011 when bitcoin's pseudonymous creator, Satoshi Nakamoto, was active in the community and $BTC was generally priced in cents.
The world's largest cryptocurrency fell from Monday's high, dropping below $117,000. Such a slide is quite common following a surge as many users sell coins to bank some profits.
Bitcoin was recently priced just above $117,000, around 4.55% lower than its peak.