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"Whale" who has been inactive for 14 years suddenly sells Bitcoin to take profit. Photo: ROT . |
A “whale” wallet holding more than 80,000 BTC sold some of its holdings as the cryptocurrency hit an all-time high of $123,000 . Its owner had been mining Bitcoin since the early days of the industry, a period known as the Satoshi era, after the creator of BTC. It coincided with the period when Bitcoin’s creator was active in the community.
According to data recorded by research firm LockonChain , the account transferred half of its assets to Galaxy Digital, an organization that specializes in supporting large-scale cryptocurrency transactions. Galaxy Digital then transferred more than 9,000 BTC to Binance and Bybit for sale.
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| A large amount of Bitcoin from whale wallets is pushed to the exchange. Photo: LockonChain. |
This wallet has been dormant for 14 years, despite the constant volatility of the cryptocurrency market. It is not clear who or what organization is behind this account. With over 80,000 BTC, the assets they hold are currently worth nearly $10 billion . Coinbase analyst Conor Grogan speculates that this is a miner who has been active since 2011. But how this person has been able to maintain assets through such volatility remains a mystery.
Regardless of the reason, the sudden reactivation of a long-standing “whale” wallet is still bad news for Bitcoin prices. The growing concern sent the world’s largest cryptocurrency tumbling about 5% to $117,000 .
Meanwhile, inflows into US spot Bitcoin ETFs fell to $297 million , down 30% from last week’s level. In contrast, Ethereum ETFs benefited, rising slightly to $259 million in positive inflows.
Valentin Fournier, research analyst at BRN, said the slowdown in Bitcoin inflows is a sign of weakening buyer confidence at high prices. He said the upcoming US consumer price index could shape the next trend.
Source: https://znews.vn/ca-voi-tien-su-thuc-giac-lam-bitcoin-sap-gia-post1568903.html
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