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CryptoQuant founder and CEO Ki Young Ju believes that the movement and consolidation of 2,000 Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) by an unidentified individual or entity into a single wallet indicates a “sell-side liquidity crisis waking up old Bitcoin.”
Young Ju <a href="https://twitter.com/ki_young_ju/status/1772758993074852158" target="_blank" rel="noopener nofollow">pointed</a> out that the pattern of the transactions suggests the coins were sold via OTC. A sell-side liquidity crisis refers to a situation with a shortage of available assets in a market, leading to difficulties for sellers in finding buyers or executing trades at desired prices. This can result in increased volatility and price fluctuations.
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 Source:<a href="https://twitter.com/mononautical/status/1772770641093222907" target="_blank" rel="noopener nofollow"> Mononautical</a>
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An unidentified individual or entity who received 2,000 Bitcoin&nbsp;in mining rewards in 2010 consolidated them into a single wallet. 
The transaction <a href="https://mempool.space/tx/b6539dbafcc644a37d320ba572a593dbce7184d8d50ac03b67b9ab96802c5ed0" target="_blank" rel="noopener nofollow">occurred</a> on March 26, as <a href="https://twitter.com/mononautical/status/1772770641093222907?t=4mVJD9J8cWFEw1MN_cnYrQ&amp;s=19" target="_blank" rel="noopener nofollow">observed</a> by developer Mononautical, on X. It consolidated 40 batches of mining rewards, each comprising 50 Bitcoin, into a single wallet.
Bitcoin miners are compensated for verifying blocks on the Bitcoin network. Initially, each block yielded 50 Bitcoin. However, at intervals of approximately four years, this reward is <a href="https://cointelegraph.com/learn/bitcoin-halving-how-does-the-halving-cycle-work-and-why-does-it-matter">halved</a>.
The <a href="https://cointelegraph.com/news/bitcoin-halving-2024">forthcoming Bitcoin halving</a> will decrease block rewards from 6.25 <a href="https://cointelegraph.com/bitcoin-price">BTC</a> to 3.125 <a href="https://cointelegraph.com/bitcoin-price">BTC</a>. It’s anticipated around April 21, but this date may change.
Related: <a href="https://cointelegraph.com/news/mysterious-bitcoiner-spends-64k-inscribe-9mb-of-data-on-bitcoin">Mysterious Bitcoiner spends $64K to inscribe 9MB of data on Bitcoin</a>
The Bitcoin rewards were valued at around $600 when this unknown entity mined these blocks. Now, they amount to nearly $140 million, as per Cointelegraph’s price index page.&nbsp;Mononautical noted:
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 “Imagine hodling for 14 years as the value rockets from a few hundred dollars to $140 million.”
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During the weekend, there was another significant Bitcoin transfer. The fifth-wealthiest Bitcoin address <a href="https://cointelegraph.com/news/6b-btc-moved-fifth-richest-bitcoin-whale">moved $6 billion worth of Bitcoin to three different addresses</a>. According to data from blockchain analytics firm Arkham, the address was funded with 94,500 Bitcoin in 2019.&nbsp;
This Bitcoin sat unmoved until the weekend when it was split up and sent to the new addresses leaving just 1.4 Bitcoin ($99,000) remaining.
In January, an<a href="https://cointelegraph.com/news/bitcoins-first-wallet-sees-1-17-m-in-surprise-transaction"> individual transferred 26.9 Bitcoin</a> (valued at $1.2 million then) from what appeared to be from Binance to the Bitcoin network’s genesis wallet, where retrieval is impossible.&nbsp;
The genesis wallet&nbsp;was the first ever wallet on the Bitcoin network set up by Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
In July 2023, a dormant Bitcoin wallet holding over 1,037 Bitcoin (worth $31 million then) suddenly <a href="https://cointelegraph.com/news/dormant-bitcoin-btc-wallet-moves-millions-after-11-years">woke after an 11-year slumber, transferring out the entire stash.</a> 
Magazine: <a href="https://cointelegraph.com/news/who-is-mr-100-bitcoin-whale-btc-holder">Who is ‘Mr. 100’? Mysterious Bitcoin whale becomes 14th-biggest BTC holder</a>

Massive Bitcoin consolidation sparks sell-side liquidity concerns

Cointelegraph

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