Bitcoin (BTC) has been in the process of falling in price since November of last year, and the situation has been particularly bloody for the past few weeks. Right down to the bottom, the price has already fallen by more than 30% in two weeks. By now, this has caught the attention of major Bitcoin owners. Yesterday is a wallet address again after 8.5 years in a serious way became active.
Sent a lot of BTC
WhaleAlert discovered that. In total, about 2,100 BTC was sent yesterday from a series addresssen with a large amount of bitcoins. At a price of about 27,000 euros, it has a value of 54 million euros.
💤 💤 💤 A dormant address containing 1,000 #BTC (30,395,186 USD) has just been activated after 8.5 years (worth 468,643 USD in 2013)!https://t.co/P9teBUAuY4
— Whale Alert (@whale_alert) May 13, 2022
The smallest amount sent was 100 BTC, the largest amount was 1,000 BTC. All of these wallets are empty at the time of writing, and the 1,000 token wallet stemmed according to Blockchain.com from 2013. WaleAlert writes that it is active again after 8.5 years, but that is not true. The address is simply the source of several transactions, but this is the first one this big. The address is now empty†
Whale with big plans?
Not only was the mentioned address of considerable size, the eight other addresses had a total of 1,100 BTC. Those addresses are also empty now. It total was sent to two addresses, the largest address at the time of writing has 2,000 BTC† We do not know who owns the wallets and the motives are not clear either.
However, the timing is striking. We may well be on the eve of a major financial crisis that is likely to affect every market. It is obvious that cryptocurrencies will also be hit. Maybe the whale wanted to sell it. This is possible via exchanges, but also via over the counter (OTC) agreements made. It is therefore possible that these types of transactions cannot be seen using exchange inflows†