Whales are some of the most relevant entities in the Bitcoin market because of their potential influence on the Bitcoin price through large-volume transactions. Investors and traders often look out for whale transactions, which can trigger a domino effect on the market. In one of such developments, recent on-chain data revealed that a particular whale has woken up from a three-year slumber, moving their BTC for the first time since 2020. Whale Becomes Active For The First Time In Three Years According to data from blockchain analytics platform Arkham Intelligence, a particular Bitcoin whale became active after years of dormancy and transferred out 5,000 BTC (worth around $137 million) on Saturday, October 7. The whale address initially received the 5,000 BTC from “Poolin mining pool” on June 23, 2020. At the time, the Bitcoin price was around $9,700, putting the total value of the transaction at approximately $48.5 million. Related Reading: Bitcoin Price: El Salvador Crypto Advisor Predicts Explosive Rise To $220,000 The Bitcoin price has experienced significant growth since 2020, with one BTC trading for $27,903 as of this writing. Consequently, the whale address’ holdings had swelled ..
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