In the first week of October, several dormant Bitcoin whales woke up and transferred more than 6,300 BTC in total. Although judging from the current transfer addresses, they did not directly dump the coins on the exchanges, the market still doubts whether these whales are pessimistic about the future market.

Bitcoin whales often use their foresight to see the market opportunities in the early stage, hoarding a large amount of Bitcoin at a very low entry cost, and their profits from holding it to date may reach thousands to tens of thousands of times. Therefore, their subsequent market operations have also attracted much attention from the market. In the first week of October, many dormant Bitcoin whales began to wake up and transfer a large amount of Bitcoin..

860 BTC transferred after 9 years of dormancy

A notable transfer this week involved more than 860 bitcoins (market value of approximately $24 million). These 860 bitcoins were scattered among 86 different wallets. All wallets were created on January 3, 2014, and restarted nine years later. All transferred 10 BTC on October 4. Considering the same wallet creation and transaction dates, it is speculated that these 86 dormant addresses belong to the same person. According to Coinmarketcap data, based on the bitcoin price of $800 in early 2014, this investment has achieved a 35-fold return.

The whale transferred 860 BTC

There is also a whale that has been dormant for more than 10 years. Three days ago, he began to transfer 504 BTC (with a total market value of approximately 14 million US dollars) from his wallet. These bitcoins have been left over since July 2013, when the price was only around 70 US dollars. It is estimated that this investment has achieved at least 400 times the return.

A whale that has been dormant for 10 years transfers 504 BTC

Transferred 5,000 Bitcoins, worth $139 million

In addition, according to blockchain browser data, there is an address created in 2020 that has been dormant for nearly 3 years. Starting this morning (8), it has transferred up to 5,000 coins to three different new wallets, with a market value of approximately US$139 million.

A whale swiped 5,000 BTC

Although the operations of the above-mentioned whales are not transferred to centralized exchanges, and it is possible that they are just integrating early wallets, the fact that multiple whales are operating at the same time at this point in time inevitably makes people wonder whether they are pessimistic about the cryptocurrency market in the short term.