Bitcoin Whale Moves 1,000 BTC
A massive chunk of Bitcoin that had been sitting idle for over a decade has suddenly been moved by a “whale” investor.
Age-Old Coins on the Move
The “Spent Output Age Bands” (SOAB) indicator tracks the movement of Bitcoin coins based on how long they’ve been dormant. The 10+ years age band recently saw a huge spike in activity.
1,000 BTC Transferred
In total, 1,000 BTC (worth around $67 million) was transferred from this age band. This suggests the involvement of a large investor, known as a whale.
Possible Explanations
Why would a whale move such old coins? One possibility is that they were lost and recently recovered. Another is that the investor has finally decided to sell after holding onto the coins for so long.
Historical Context
Movements of old coins can be a sign of selling, but it’s not uncommon during bull markets. As Bitcoin gains attention, people may be motivated to search for lost wallets.
Current Bitcoin Price
At the time of writing, Bitcoin is trading around $67,000, up 18% over the past week.
