CandleFocus Bitcoin Whale Resurfaces After 11 Years After Its BTC’s Value Rose Over 15,000%
2024-12-05
Author: Content Editor
A long-dormant Bitcoin whale has made a large transaction of $257 million in BTC after its holdings surged by over 15,300% since its last action 11 years ago. The resurfacing of Bitcoin whales, particularly those from the era of Satoshi Nakamoto, can influence the price of Bitcoin. The recent movement of whales coincides with a drop in Bitcoin exchange reserves, indicating a lower supply available on the market. This, coupled with rising demand, could lead to a cryptocurrency price increase. The price of Bitcoin is currently trading at $96,700 and has been steadily increasing, with hopes of surpassing the $100,000 psychological barrier. Additionally, the total holdings of BlackRock's spot Bitcoin exchange-traded fund (ETF) have exceeded 500,000 BTC, and MicroStrategy has accumulated 15,400 coins, bringing its total BTC holdings above 400,000.
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