Bitcoin ETF

Bitcoin

Impact

Million

<div class="watcher-guru">
 <p>An aged Bitcoin whale, dormant for approximately four years, has resurfaced, executing a notable maneuver that has seized the attention of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> community. Lookonchain, a platform for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> analytics, has reported a substantial transfer of 3,623 BTC, valued at an impressive $136.94 million, to two recently established wallets.</p>
 <h4 class="wp-block-heading" id="h-accumulation-strategy-and-remarkable-profits">Accumulation Strategy and Remarkable Profits</h4>
 <p>This financial giant discreetly gathered its <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency holdings at an average cost of $6,889 per BTC between Oct. 25, 2018, and Dec. 31, 2019. During that period, the total investment amounted to a modest $24.96 million. Fast forward to current market prices, and the whale is now enjoying a staggering profit of approximately $112 million. The strategic timing of this move aligns with Bitcoin attaining its highest value since May 2022. It surged to an impressive $38,500 per BTC.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">A whale that had been dormant for ~4 years transferred all 3,623 $BTC($136.94M) to 2 new wallets 1 hour ago.<br><br>This whale accumulated 3,623 $BTC($24.96M) at ~$6,889 from Oct 25, 2018 to Dec 31, 2019.<br><br>At current prices, the profit is ~$112M.https://t.co/QL3fPiV900 pic.twitter.com/wrMe4loIwm</p>
    <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
     <div class="publift-ad add">
      <div data-fuse="22560828227"></div>
     </div>
    </div> — Lookonchain (@lookonchain) November 30, 2023
   </blockquote>
  </div>
 </figure>
 <h4 class="wp-block-heading" id="h-market-speculation-and-potential-relationships">Market Speculation and Potential Relationships</h4>
 <p>Within the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> community, speculation is rife regarding the unexpected reappearance of dormant Bitcoin holders and its potential connection to forthcoming sell-offs. Analysts are drawing parallels with a similar pattern observed earlier this year. During this, a series of unforeseen awakenings resulted in an 18% correction in BTC prices, momentarily dipping to a low of $24,777. While it remains premature to predict if this recent whale resurgence will spark a trend, market observers are closely monitoring this development. This revival marks a distinct event, and its implications for the broader <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> landscape are yet to be fully comprehended.</p>
 <p>The cryptocurrency market has witnessed occasional reawakenings of dormant Bitcoin whales, each instance contributing to heightened market volatility. The correlation between such whale activities and market corrections has become a subject of keen interest for analysts. The resurgence of this ancient Bitcoin whale, coupled with its substantial profit gain, adds an intriguing layer to the ongoing narrative of market dynamics.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="585" src="https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp" alt="Bitcoin" class="wp-image-120505" srcset="https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp 1024w, https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp 300w, https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp 768w, https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp 1536w, https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp 380w, https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp 550w, https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp 800w, https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp 1160w, https://cdn.thebittimes.com/images/2023/12/01/7884a8dcfe7858418a95ad253659c888.webp 1792w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <p><strong>Also Read: Pando Asset Throws Hat in the Ring as 13th Player in Bitcoin ETF Race</strong></p>
 <h4 class="wp-block-heading" id="h-impact-on-the-crypto-landscape">Impact on the Crypto Landscape</h4>
 <p>As the crypto community observes with anticipation, the implications of this whale’s resurgence are multifaceted. Beyond the immediate impact on Bitcoin prices, this move raises questions about the strategic decisions of long-term holders. Along with this, their potential influence on market trends is in question. The current market atmosphere, characterized by renewed interest in cryptocurrencies, introduces an additional layer of complexity when deciphering the motives behind such significant maneuvers.</p>
 <p><strong>Also Read: Twitter Founder Jack Dorsey Backs Decentralized Bitcoin Mining</strong></p>
 <p>The return of the ancient Bitcoin whale, orchestrating a substantial move and reaping a remarkable profit, marks a noteworthy event in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency space. While the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> community speculates on potential correlations with market corrections, the true implications of this resurgence are yet to unfold. As Bitcoin undergoes heightened volatility, the strategic moves of long-dormant holders become crucial indicators for market observers. This development prompts careful consideration and <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> as the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> landscape evolves with each move made by these influential entities.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>bitcoin</li>
  <li>btc</li>
  <li>crypto</li>
  <li>cryptocurrency</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dormant-bitcoin-whale-s-resurgence-nets-112-million-profit-tbt72245.html">https://thebittimes.com/dormant-bitcoin-whale-s-resurgence-nets-112-million-profit-tbt72245.html</a></p>

Dormant Bitcoin Whale's Resurgence: Nets $112 Million Profit

TheBitTimes

Other articles published on Nov 30, 2023

How to Buy Ethereum Using Trust Wallet: A Visual Guide

Dogecoin Founder Says DAOs Are ‘Universally Stupid And Doomed’, Here’s Why

November crypto losses hit $363m, highest in 2023

Robinhood Announces UK Launch Boosting International Outreach

Unveiling $HOLD: Revolutionizing Fairness in Crypto with Groundbreaking ‘Fair Launch’ Token

Extinction Looms? Over 75% Of Crypto-Based Games Are Dying, Study Shows

Join our free newsletter for daily crypto updates!