Bitcoin News Today: Bitcoin Whale Moves $9.5 Billion in Two Transactions, Market on Edge

A Bitcoin whale, dormant for over 14 years, has transferred its entire 80,000 BTC holding, valued at approximately $9.5 billion, in two separate transactions. The first transfer of 40,009 BTC, worth around $4.77 billion, was sent to Galaxy Digital, an asset management firm. Galaxy Digital subsequently moved 6,000 BTC, valued at about $706 million, to leading crypto exchanges Binance and Bybit, raising speculation about potential liquidity or sale intentions.

The wallet, which had been inactive since 2011, initially received 20,000 BTC in April 2011 at $0.78 per coin. The remaining 60,009 BTC were transferred to six other wallets in May 2011 when the asset was priced at $3.37. The total holding of over 80,000 BTC, now valued at more than $9.46 billion, had remained unchanged until this month.

This significant movement comes at a critical time for Bitcoin, which recently hit a new all-time high of $122,000 before correcting. Analysts suggest that the price dip may have been influenced by the whale taking profits. The market is now on high alert, with concerns that if even a portion of the newly transferred funds ends up on exchanges, it could exert downward pressure on the price and trigger liquidations.

Adding to the market's tension, another dormant Bitcoin whale moved 1,042 BTC, valued at $123 million, to a new wallet after six years of inactivity. This smaller whale's holdings were initially drawn from Braiins Mining and Xapo Bank, bought at nearly $8,746 per coin, and have since surged into a high nine-figure portfolio.

Despite these movements, major holders such as Satoshi Nakamoto, the Winklevoss Twins, Tim Draper, and Michael Saylor remain unmoved. These enduring holders provide a sense of stability in a market prone to volatility caused by the activities of early Bitcoin holders.

The crypto market is closely monitoring the blockchain for any further developments. If the recently relocated 40,000 BTC ends up on centralized exchanges, it could indicate sell intent and potentially disrupt market sentiment, leading to further price corrections. However, if the currency is stored in cold storage or used for institutional custody, the impact could be mitigated.

This unusual activity from Satoshi-era whales serves as a reminder of the quiet titans that remain beneath the surface of the crypto market. As Bitcoin continues to rewrite market records and cross new milestones, the actions of early holders will continue to shape the narrative for modern investors.