A Bitcoin whale dormant since April 2021 has stirred, transferring approximately $530 million worth of BTC into two new addresses. Blockchain data reveals one wallet now holds $420 million, while the second contains exactly 1,000 BTC, valued at around $107 million.
Bitcoin Whale Movement Amid Price Surge
The whale’s last activity dates back to April 2021, a period when BTC traded near its all-time high of $64,000, according to data from Arkham Intelligence, a blockchain tracking platform. With Bitcoin price recently stabilizing above $103,000, the transfer has raised speculation about the whale’s motives, with some analysts suggesting a potential profit-taking move.
Large-scale transactions like this often attract attention due to their potential impact on market dynamics. Whale activity is closely monitored as it can signal significant market shifts or upcoming price volatility. Despite the massive movement, no immediate sell-off has been reported, indicating the whale may not be offloading their holdings just yet.
BTC WHALE WAKES UP: MOVES $530M AFTER 3 YEARSA Whale that has been dormant for over 3 years has just moved $530M of Bitcoin into two new addresses, with one holding $420M and the other holding exactly 1000 BTC (~$107M)The last time this BTC moved was 3 years ago, in April… — Arkham (@arkham) December 16, 2024
Bitcoin price remains resilient, supported by recent positive sentiment in the crypto market, including growing institutional adoption and regulatory clarity. However, the reactivation of dormant wallets can sometimes introduce uncertainty, as investors weigh the possibility of increased selling pressure.
Traders will be watching closely for any further activity from these wallets or signs of movement to exchanges. For now, the market appears to have absorbed the news without major disruption, with BTC maintaining its position above the $103,000 level.
Market participants will continue to monitor on-chain data for clues about the whale’s next move. Moreover, the upcoming FOMC meeting this week could also stir things up if the Fed rates aren’t at par with the expectations.