Whale wakes up and sends $60 million worth of Bitcoin after 9 years

A whale with more than $176 million in Bitcoin has come out of hibernation after more than nine years and sent at least $60 million worth of Bitcoin to a new address. It concerns a transaction of 2,071.50 Bitcoin. The whale itself received a total of 6,071.50 Bitcoin towards the end of 2013, when the price was around $663.

Reason unknown

The reason for the whale’s transaction is unknown at this time. It is quite possible that he wants to take advantage of Bitcoin’s uptick. From the end of 2022 to today, the price has approximately doubled.

Especially if this is all of the whale’s Bitcoin in question, it makes sense that he might sell a small portion to spread his risk. There is a chance that it is a so-called over the counter deal goes.

These are deals in which large entities privately sell Bitcoin to each other so as not to influence the price too much. On the exchange platforms, due to limited liquidity and thin order books, it can sometimes be difficult to buy $60 million worth of Bitcoin.

price is under fire

Meanwhile, the Bitcoin price is a bit under fire. After spending several days above $30,000, Bitcoin has now dropped back to $28,858. This means that the limit of $ 29,000 has also been lost.

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The next few days seem to be very important for the bulls in that regard. Can they continue the momentum or is another strong bear period coming? So far, 2023 is the year of the bull, but things can change quickly in this industry.

Certainly if you look at the macroeconomic picture, it would not be surprising if a tough period is coming for Bitcoin. Interest rates are still sky-high and the inflation problem is anything but solved. In that respect, the sequel of 2023 may prove tough.

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