BTC Whales Wake Up From 14-Year Slumber to Move Over $2B of BTC, On-Chain Data Show

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When a big whale strikes within the sea, it creates ripples throughout the water. Similarly, when a big bitcoin

holder, typically referred to as a crypto whale, strikes its cash on-chain, that creates buzz on social media, prompting observers to marvel if it is a prelude to a sale and draw back value volatility.

Early Friday, two wallets, labelled “12tLs…xj2me” and “1KbrS…AWJYm,” moved 20,000 BTC, price over $2 billion, to new addresses, in accordance to knowledge tracked by blockchain sleuth Lookonchain. The addresses obtained these cash on April 3, 2011, when bitcoin was priced at round 78 cents.

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Today, BTC is over $109,000, implying a staggering 140,000-fold return for the 2 whale addresses, which signifies that they’ve a powerful incentive to liquidate their holdings. Many long-term holders have been promoting their cash ever since BTC crossed above $100,000 in May.

That stated, the most recent transfers have been made to non-exchange addresses, which have gone silent since receiving these cash. So, it is too early to conclude that the switch operation is aimed toward taking earnings.



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