Someone's started scooping up $BTC again.

I just noticed that an old wallet that had been dormant for a long time has become active.

It transferred a few hundred $BTC to an exchange.

The first reaction is bound to be panic.

But hold on a second.

This one transaction alone doesn't really tell us anything.

An old wallet moving coins could mean it's about to sell.

Or it could just be moving them somewhere else.

Or simply reorganizing its holdings.

That's a different thing from “a whale is about to dump.”

What really matters is what happens next.

If more and more coins are transferred to exchanges over the next few days,

then the selling pressure is worth taking seriously.

As for this one transaction, I don't think there's any need to scare ourselves.

Let's see what happens next.