Bitcoin

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In a surprising turn of events, a long-dormant Bitcoin whale, inactive for approximately four years, has reemerged from the shadows, making a substantial move in the cryptocurrency market.&nbsp;
<a href="https://x.com/lookonchain/status/1730053375184736329?s=20" rel="noopener noreferrer nofollow">Lookonchain</a>, a prominent crypto analytics platform, has reported that the whale has executed a transfer of 3,623 BTC, valued at an impressive $136.94 million, to two newly created wallets.
This financial giant had stealthily accumulated its crypto assets at an average cost of $6,889 per&nbsp;<a href="https://u.today/bitcoin-btc-bull-mike-novogratz-bad-actors-are-out" rel="noopener noreferrer nofollow">BTC</a> in the period from Oct. 25, 2018, to Dec. 31, 2019. At that time, the total investment was a mere $24.96 million. Fast forward to today's market prices, and the whale is now sitting on a staggering profit of approximately $112 million.
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 A whale that had been dormant for ~4 years transferred all 3,623 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($136.94M) to 2 new wallets 1 hour ago.This whale accumulated 3,623 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($24.96M) at ~$6,889 from Oct 25, 2018 to Dec 31, 2019.At current prices, the profit is ~$112M.<a href="https://t.co/QL3fPiV900" rel="noopener noreferrer nofollow">https://t.co/QL3fPiV900</a> <a href="https://t.co/wrMe4loIwm" rel="noopener noreferrer nofollow">pic.twitter.com/wrMe4loIwm</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1730053375184736329?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 30, 2023</a>
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The timing of this monumental move coincided with&nbsp;<a href="https://u.today/north-korea-linked-crypto-mixer-gets-in-us-crosshairs" rel="noopener noreferrer nofollow">Bitcoin</a> achieving its highest value since May 2022, soaring to an impressive $38,500 per BTC. The crypto community is abuzz with speculation, with some analysts pointing to a potential correlation between such awakenings of dormant Bitcoin holders and impending sell-offs.
Notably, a similar pattern emerged earlier this year, where a series of unexpected awakenings resulted in an 18% correction in&nbsp;the <a href="https://u.today/bitcoins-btc-price-soars-in-daring-push-to-new-heights-eyeing-40000" rel="noopener noreferrer nofollow">BTC price</a>, plummeting to a temporary low of $24,777. While it is too early to determine if this recent awakening will spark a trend, market observers are keenly monitoring this development.
This resurgence marks the first of its kind in a while, and its implications for the broader crypto landscape are yet to be fully understood.
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Ancient Bitcoin Whale Awakens and Moves Thousands of BTC

U_Today

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