On-chain data shows unusual activity! According to @whale_alert on the evening of the 24th, a Bitcoin address dormant for 14.5 years was suddenly activated, with the wallet holding 3,962 BTC, valued at approximately $468 million.
Ancient Whale Awakens: Tracking Fund Movement
In response, on-chain data analyst Ai Yi immediately pointed out that these BTC originally came from "Coinbase transactions" (referring to mining income, not the Coinbase exchange), suggesting the whale is likely an early miner. Currently, the whale has made a small transfer attempt, the first external transfer since January 2011.
Ai Yi emphasized that calculated at a cost of $0.32 per Bitcoin, the return on these ancient Bitcoins has reached an astounding 370,000 times!
Whale Dumping Consensus?
Notably, as BlockTempo previously reported, earlier this month, an ancient whale holding 80,000 Bitcoins began activating its wallet address and recently transferred its entire position to crypto asset management company Galaxy Digital, interpreted by the market as a profit-taking signal.
Regarding this whale's awakening, many netizens are discussing in social circles, directly suggesting the whale might be about to sell: "Ancient Bitcoins are moving, Bitcoin price is in danger again", "Whales have reached a consensus to sell". However, another group believes it's "too early to conclude" based solely on fund movement.
Additionally, to determine if the whale is truly bearish, a key reference is Bitcoin inflow and outflow data from exchanges. According to the latest Coinglass data shown, current exchange Bitcoin balance is 2.14 million, still at a long-term low point, with only slight fluctuations in the past week.
Whether this 3,962 BTC transfer is a bearish omen or just asset reallocation remains to be verified by more on-chain data. Let's continue to follow the developments.
