Bitcoin Plunges as Enormous Satoshi-Era Whale Starts Selling
2025-07-15 05:13:02
Main Idea
Bitcoin's price dropped significantly as a Satoshi-era whale began selling large amounts of BTC, transferring billions of dollars worth of Bitcoin to exchanges, which increased selling pressure.
Key Points
1. A Satoshi-era whale transferred 9,000 BTC (~$1.06 billion) and later 7,843 BTC (~$2.42 billion) to exchanges, contributing to Bitcoin's price decline.
2. Bitcoin briefly fell below $117,000, hitting an intraday low of $116,218 before recovering slightly.
3. Galaxy Digital deposited these coins to major exchanges like Binance and Bybit, with $236 million worth of BTC moved.
4. Analytics platform Lookonchain reported the whale controls over 80,000 BTC, and the recent transfers suggest profit-taking activity.
5. The selling pressure from the whale's transactions led to a spike in profit-taking, indicating a potential short-term market top.
Description
Is this Satoshi-era whale singlehandedly responsible for Bitcoin's massive price drop?
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