As a seasoned cryptocurrency analyst with over a decade of experience under my belt, I find myself intrigued by the recent activities of these “ancient Bitcoin whales.” These early adopters have held onto their digital gold for years and are only now starting to show signs of cashing out.
An early miner of Bitcoin, who had amassed a substantial amount in 2009, five days following the creation of the genesis block, and held onto their cryptocurrency for over a decade without any transactions, has now moved approximately $630,000 worth of Bitcoin to the crypto exchange Kraken.
Over the last two months, a significant Bitcoin holder from earlier times, often referred to as a “Bitcoin whale,” has transferred approximately $5.47 million in Bitcoin (BTC) to the exchange Kraken, according to blockchain data provider Arkham Intelligence’s recent Oct. 14 post.
It added that despite the recent moves, the whale wallet still holds $75.23 million worth of BTC.
After the transfer, the wallet’s remaining 1,127 Bitcoin was moved to a new wallet address.
In its early days, Bitcoin accounts seldom transferred funds, yet it’s possible that those who own these assets are considering liquidating their holdings.
On October 3, a Bitcoin holder who had previously stored their coins untouched for over ten years transferred 10 Bitcoins, equivalent to approximately $610,000, to the exchange Kraken. This is according to Arkham’s analysis.
In September, the company followed a different whale who began mining Bitcoin about two months following the launch of the blockchain. After being inactive for 15 long years, this entity transferred approximately $16 million to the Kraken platform.
Over the past seven days, Bitcoin has experienced an upward trend, increasing by approximately 7.45% and reaching above $67,000. This surge might explain why the large investor, often referred to as a ‘whale’, appears to be considering selling some of their holdings.
Over the past year, Bitcoin has experienced significant ups and downs. It dipped to a record low of around $28,000, but it also reached an unprecedented peak of approximately $73,000 in March.
The Crypto Fear & Greed Index, which measures market sentiment in the cryptocurrency market, has been showing optimistic signs lately. As of October 16th, the index stood at 73 points out of a possible 100, indicating it’s firmly within the “Greed” zone, a state it has maintained for the past two days.
The last time the index recorded a score above 73 was on July 29, when Bitcoin was around $66,000.
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2024-10-16 10:37