Bitcoin’s All-Time High
Bitcoin soared to a record-breaking $69,200, sparking excitement among traders. However, the celebration was cut short when the price plummeted to $61,200.
The Dormant Whale
On-chain data revealed a dormant Bitcoin address holding $67.1 million worth of BTC. After 14 years of inactivity, the whale suddenly sold its entire stash.
Whale’s Profit
The whale had acquired these Bitcoins in 2010 for a mere $280. By the time of the sale, they were worth $67,116 each, netting the whale a potential profit of over $60 million.
Impact on the Market
The whale’s massive sell-off contributed to the market crash, as investors took profits.
Dormant Whales
The Bitcoin blockchain is home to many dormant whale addresses. When they awaken, it can have a significant impact on the market.
Bitcoin’s Future
Despite the setback, Bitcoin has rebounded and is now trading at $66,915. Experts anticipate further growth due to institutional investment and accumulation from traders.
