Bitcoin Whale With Decade-Old Wallet Resumes Large BTC Sales Amid Market Stability

Key Points

1. The whale wallet, originally holding 5,000 BTC acquired in 2012 at a cost basis of $1.66 million, has begun selling portions of its holdings.

2. A recent transaction involved transferring 250 BTC (valued at ~$29.68 million) to Binance, realizing a profit margin exceeding 34,900%.

3. The wallet previously sold 1,000 BTC at prices near $106,000, netting over $106 million, with a two-month hiatus before the latest transfer.

4. On-chain data suggests the whale is strategically distributing BTC incrementally, possibly influenced by Bitcoin's price stabilizing between $116,000 and $120,000.

5. Market observers highlight the significance of a long-term holder reengaging after years of inactivity, which could impact liquidity and price volatility.