According to Whalemap, an on-chain analytics platform for tracking crypto and blockchain data, a mysterious Bitcoin whale has suddenly returned to the market and sold a massive amount of Bitcoin. The data shows that this wallet was created in 2013 and has been inactive since last May.
Upon awakening, the whale transferred 5000 BTC worth nearly $100 million to the Kraken exchange. It is known that this wallet initially bought Bitcoin for only 698 USD but after 9 years, this asset has increased by 2800%, bringing a large profit of up to 95 million USD for the owner.
Over the past few weeks, many Bitcoin whales have come back after years of inactivity, including wallets created in the Satoshi era. Some users are concerned that these wallets suddenly waking up may increase selling pressure, thereby causing Bitcoin price to continue to drop in the next time.
As reported by online chain analysis platform Glassnode, the volume of Bitcoin that has remained unspent for at least a year has reached a new ATH of 12,589 million BTC; equivalent to 65.77% of the circulating supply. The growing number of inactive Bitcoins is considered one of the signs of a bear market, suggesting a bearish outlook in the future.
On the other hand, Santiment claimed that there have been 107 new wallets holding between 100 and 10,000 BTC, showing that whales are actively hoarding Bitcoin. At the time of writing, Bitcoin is currently trading at $19,290, increasing slightly by 2.9% over the past 24 hours.
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