Bitcoin News Today: Bitcoin Whale Moves $4.77 Billion in BTC, Sparking Price Drop Fears

An anonymous investor from Bitcoin’s early days has transferred $4.77 billion worth of BTC to a single wallet in one move, according to on-chain data provided by Onchain Lens. This wallet had recently sent 40,009 BTC, valued at $4.69 billion, to Galaxy Digital, a transaction deemed a primary cause of a price drop. The latest transfer has escalated concerns over sustained selling pressure in Bitcoin. The anonymous wallet, noted for holding coins from the network’s early block rewards, is often labeled with the “Satoshi era” tag. Onchain Lens highlighted that the recent transaction consolidated $4.77 billion worth of BTC in a single move, noting it was a direct wallet-to-wallet transfer without involving exchanges or custodians. Such significant movements can indicate institutional sales or portfolio rebalancing, warranting close attention from market participants.

Previously, the same wallet had transferred 40,009 BTC to Galaxy Digital’s wallet. Analysts argued this exit triggered a quick drop in price below $120,000 due to selling pressure. With the latest action, the total transferred amount nears the 80,000 coin threshold, raising fears among investors about continuing downward potential. Leveraged positions, in particular, may remain vulnerable to this scenario. CoinMarketCap’s data shows Bitcoin stabilized at $118,438 despite limited gains in the last hour. While institutional trading fund flows have charted the recent price direction, on-chain data reveals that anonymous whales exert an equally substantial influence. Consequently, market liquidity swiftly fluctuates depending on the tug-of-war between institutional investors and seasoned whales, making short-term trading challenging.

Market observers often interpret the movement of coins from the Satoshi era as a sell-off signal since it increases supply from long-dormant assets. However, where these funds will ultimately go remains uncertain. Their consolidation into a single wallet may signal a tactical repositioning. Still, investors are wary that successive high-volume transactions might pose pressure on prices. The sudden movement of these funds has sparked considerable interest and speculation within the crypto community. The transfer of these funds has raised questions about the potential motives behind the movement. The pseudonymous crypto analyst Satoshi Stacker reported that one of the two whales moved 40,000 BTC, worth around $4.7 billion, to new addresses. Approximately $2 billion of this BTC was then transferred to centralized exchanges, likely for sale.

An ancient Bitcoin whale that had been dormant for 14 years has once again made headlines with a significant transfer of Bitcoin. Approximately 10 days ago, two Bitcoin addresses, each containing 10,000 BTC, were emptied within minutes of each other. These wallets had initially received their Bitcoin on April 3, 2011, when the price of BTC was $0.78 per coin. The wallets in question had been dormant since April 2011, but they had received trace amounts of Bitcoin during the intervening period. These trace amounts could be due to dusting attacks, which are typically conducted by researchers, law enforcement officials, or criminals. Dusting attacks involve sending small amounts of Bitcoin to multiple addresses to try to identify the entities behind them. The phenomenon of long-dormant addresses suddenly becoming active often sparks media interest due to their potential link to the pseudonymous creator of Bitcoin, Satoshi Nakamoto. Nakamoto's identity remains a mystery more than a decade and a half after the introduction of Bitcoin. The sudden movement of these funds has added to the intrigue surrounding the crypto king and its enigmatic creator.

The recent transfer of Bitcoin by the ancient whale has had a noticeable impact on the market. Bitcoin is currently trading at $117,195, reflecting a 2.2% decrease on the day. The movement of such a large amount of Bitcoin to centralized exchanges suggests that the whale may be looking to sell, which could potentially influence the market in the coming days. The crypto community is closely watching the situation to see how it will unfold and what impact it will have on the broader market. The post appeared first on .