Bitcoin Whale Awakens from Decade-Long Slumber
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In a jaw-dropping twist that has left the crypto world buzzing, a Bitcoin whale that had been dormant for over a decade has suddenly sprung to life, making waves with a monumental transfer of its entire Bitcoin stash on June 8.
The whopping movement, totaling 1,432.93 BTC with an approximate value of $38.2 million going by the press time exchange rate, caught the attention of industry insiders and analysts alike, shedding light on the intriguing behavior of these silent behemoths.
The remarkable hodler, who had firmly held their Bitcoin for more than ten years, seems to have struck gold back on April 9, 2013, when they received 1,432.92 BTC at a time when Bitcoin’s trading price hovered around a modest $195.4. This recent activity marks just one episode in a series of similar transfers witnessed in recent months, adding fuel to the already burning speculation surrounding the motives behind these dormant Bitcoin movements.
While it’s hard to ascertain whether these whale-sized maneuvers reflect a shift in market sentiment or merely a personal strategy of safeguarding assets, the bear market has raised questions about the steadfastness of these long-time hodlers. Are they seizing the opportunity to unload their Bitcoin holdings or simply taking extra precautions as responsible custodians?
Dormant Bitcoin Whales Are Waking Up
The cryptoverse witnessed another spectacle in April when an inactive Bitcoin wallet, having lain dormant for an impressive nine years, sprang to life with a massive transfer of 2,071.5 BTC, valued at over $60 million. Astonishingly, this particular whale address originally received a jaw-dropping sum of 6,071.5 BTC back in 2013, during the heyday of Bitcoin when its price danced around $663.
Not to be outdone, another veteran Bitcoin HODLer emerged from the shadows during the same period, flexing its digital muscle by transferring 400 BTC, equivalent to a cool $11 million, across numerous addresses. This exceptional wallet had remained untouched and undisturbed for an astonishing 12 years, capturing the imagination of cryptocurrency enthusiasts.
Whales Are Accumulating BTC Aggressively: Glassnode
Adding an intriguing layer to the ongoing saga, a recent analysis conducted by Glassnode revealed that large Bitcoin whales continue to aggressively accumulate the flagship cryptocurrency, despite its price being ensnared in a range-bound trajectory. These audacious moves by the whales suggest an unwavering belief in Bitcoin’s long-term potential, boldly defying the prevailing market conditions.
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