#whales
đ A whale has awakened: $378 million in Bitcoin moves after 6 years of dormancy!
"Old money" has become active in the crypto market once again. According to on-chain analysts Lookonchain and Arkham, a long-dormant wallet transferred its entire holding of 4,582 BTC ($377.6 million) to five new addresses.
Interesting facts:
đ„ This wallet originally received its Bitcoin back in March 2020. At the time, the total amount was worth around $40.8 million (a nearly 10x gain!).
â±ïž The coins had not moved for over six years.
đ This is not the first such instance recently: last week, another whale moved 4,500 BTC ($375.7 million) after four years of inactivity.
What about the $BTC price?
After a local dip to ~$81,220, Bitcoin stabilized around the $83,250 mark.
Analyst insights: Arctic Digital notes that this price correction does not negate the overall bullish trend but rather establishes a new support zone. Meanwhile, QCP Capital forecasts that BTC will trade within the $80,000â$90,000 range throughout the fourth quarter.
đ A whale has awakened: $378 million in Bitcoin moves after 6 years of dormancy!
"Old money" has become active in the crypto market once again. According to on-chain analysts Lookonchain and Arkham, a long-dormant wallet transferred its entire holding of 4,582 BTC ($377.6 million) to five new addresses.
Interesting facts:
đ„ This wallet originally received its Bitcoin back in March 2020. At the time, the total amount was worth around $40.8 million (a nearly 10x gain!).
â±ïž The coins had not moved for over six years.
đ This is not the first such instance recently: last week, another whale moved 4,500 BTC ($375.7 million) after four years of inactivity.
What about the $BTC price?
After a local dip to ~$81,220, Bitcoin stabilized around the $83,250 mark.
Analyst insights: Arctic Digital notes that this price correction does not negate the overall bullish trend but rather establishes a new support zone. Meanwhile, QCP Capital forecasts that BTC will trade within the $80,000â$90,000 range throughout the fourth quarter.