A significant Bitcoin transaction has drawn market attention after a long-dormant whale wallet transferred 5,000 BTC to Galaxy Digital.
The wallet, historically holding over 80,000 bitcoins, had shown no activity for an extended period prior to this movement. Blockchain analytics platform Arkham identified the transfer.
Movements of this magnitude from previously inactive large holders are closely monitored by market participants. Such transactions can potentially impact market liquidity and influence trader sentiment due to the size of the assets involved.
The specific reasons behind the transfer to Galaxy Digital, a major cryptocurrency financial services firm, remain undisclosed.