The latest on-chain data shows that a Bitcoin whale that has been "hibernating" for over 14 years has transferred a large amount of BTC to exchanges, raising concerns about short-term selling pressure.
Specifically, according to Twitter user @ai_9684xtpa, a total of 14,273 BTC (valued at approximately $1.67 billion) was transferred to exchanges within the past 12 hours. These transactions were made through Galaxy Digital - a large financial institution specializing in digital asset services for institutional investors. In the past hour alone, 5,690 BTC has been transferred.
On-chain activity indicates that actual selling is taking place, not just internal asset movement. Within 4 hours, over 10,000 BTC was traded on the Binance exchange. Additionally, Galaxy Digital also withdrew a certain amount of USDT after making BTC deposits, suggesting this could be a profit-taking action.
A whale that has been "hibernating" for over 14 years suddenly awakening and dumping a large amount of BTC into the market is causing the community to worry about the possibility of short-term downward pressure on Bitcoin's price.
