"Ancient" Bitcoin Whale Moves 300 BTC After Decade of Dormancy
An "ancient" Bitcoin whale, holding over 300 BTC since 2013, has moved its dormant funds. The wallet, initially funded when Bitcoin was $75, now holds approximately $34.8 million.
This significant movement occurs as Bitcoin's price dipped to a three-week low. The funds were split between two new wallets, suggesting strategic redistribution rather than immediate liquidation.
CryptoQuant has warned that sustained selling from long-term holders could signal a months-long correction phase for Bitcoin. This marks the third major instance of significant whale selling in 2024.