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Bitcoin worth over $3 million was moved after a 13-year slumber. Assets from two wallets, each containing 50 BTC mined in 2010, were transferred to separate wallets. The identities of the owners are unknown, but they have become the sixth and seventh whales to move large amounts of BTC this year. These movements occurred as the price of the leading digital asset climbed amidst renewed interest from institutional investors.
Crypto Whale Movements Stir After 13 Years
But who owns these Bitcoins from 2010? Dr. Kirill Kretov has previously suggested that Bitcoins mined in 2010 likely belong to computer experts trying out new technologies.
There’s a unique spirit of crypto anarchism and technological pioneering behind such old addresses. It’s like a time machine, and thousands of people have to speculate on why these bitcoins are being transferred now.
Kretov also mentioned a theory that “elder” whale wallets are exchanging BTC to signal each other that it’s time to pump the price of the world’s oldest and largest cryptocurrency.
Such movements are noted on price charts by some researchers trying to predict future prices. Fortunately, I’m not one of them.
Just last week, we saw 50 BTC moved from another wallet after 11 years of inactivity. Although the numbers aren’t massive, the revival of assets inactive for many years stirs speculation.
Will Bitcoin Price Fall?
Today around 21:42, the third largest Bitcoin whale moved 8844 BTC. The transfer, reported by a user named ANLCNC1, is suspicious because the sender was previously anonymous and is now tagged as Binance.
The third largest Bitcoin whale’s old wallet had 8,844 BTC withdrawn and sent to what we call an intermediary wallet before being moved to a new one.
But I noticed another detail. Previously, the sender was listed as unknown in the Whale Alert Telegram bots, now it’s Binance, hopefully nothing bad.
There’s a strong chance this could be Binance‘s cold wallet. Such transfers could trigger on-chain alarms and panic investors. On the other hand, BTC’s MVRV is heading for new peaks, indicating that profit sales could begin soon. If sales do not start in the coming days (despite this on-chain activity), positive sentiment could increase.
