Bitcoin Plunges as Enormous Satoshi-Era Whale Starts Selling

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.