- A Bitcoin whale moved 2,700 BTC ($257M) after 11 years of dormancy, sparking speculation.
- Six dormant Bitcoin wallets reactivated between November 28 and December 1, with one containing 429 BTC ($41M).
- A whale sent 1,000 BTC ($97.5M) to Binance, potentially influencing market fluctuations despite Bitcoin’s price stability.
On-chain data from cryptocurrency analytics firm Lookonchain revealed that Bitcoin Whale recently transferred 2,700 BTC worth over $250 million. The address first received the funds in December 2013, when Bitcoin traded at just $625, and the massive transaction sparked speculation from analysts and social media users about its motive.
On-chain data from cryptocurrency analytics firm Lookonchain revealed that, six dormant Bitcoin wallets were reactivated between November 28 and December 1, having inactive for nearly 11 years. Among these, the most significant transaction came from a wallet containing 429 BTC, now valued at over $41 million at BTC.
Bitcoin Whale Activates 11 BTC After 11.6 Years
Mainly, these wallets was active last time, when BTC was from $700 to $900, which has exploded a tremendous value of about 4,500% of it until now. The reactivation of these wallets has been tending to discussions around the reasons of these activities, such as, the recovery of private keys or making a profit in anticipation of Bitcoin’s continued rising prices.
Whale Alert reported another dormant Bitcoin address, containing 11 BTC worth approximately $1.07 million, was activated after 11.6 years. Such movements are rarely seen and fuel speculation about larger market trends, especially when triggered by whale activity.
Despite these whale movements and dormant wallet activations, Bitcoin has shown resilience. After a 37.42% increase in November, its price remains stable, up 1.25% in the last 24 hours to $96,609. As BTC progresses, reactivated wallets and whale activity could influence price trends. While it’s unclear whether this will cause a correction or boost prices, the surge in dormant wallet growth is notable for long-term holders.
Whale Sends $97.5M BTC to Binance
Lookonchain revealed some whale activities on the last day, that is, 1,000 BTC or roughly $97.5 million, a whale sent to Binance, thus holding the threat of soon market fluctuations. The whale acquired 11,657 BTC from Binance from March to October at an average price of $66,953 per BTC.
Despite these movements, Bitcoin’s price has remained resilient, hovering near $95,900 and showing signs of strong demand. Market experts have closely monitored these large transfers, as significant inflows to exchanges typically suggest a potential increase in selling pressure.
The abrupt activity has triggered some to consider if the whale might have sold too early, with a user stating, “They should hold to $1 million!” This speculation is understandable because it is rare for dormant wallets to contain such amounts of BTC. Bitcoin’s value has risen 128% year-to-date, and the whale cashing out was nearing $100,000.
There are only 1,978 addresses worldwide with more than 1,000 BTC, proving that substantial market players may decide now is the time to cash in their profits. It transferred 19,800 BTC just last week, which led to a price downturn for as long as it takes for the government to remit 10,000 BTC to Coinbase Prime.
Related Reading: Bitcoin’s Bold $200K Forecast Holds Steady as Whale Movement and Market Trends Point to Strength
