Early Bitcoin Whale Sells $1 Billion Worth of BTC as Prices Retreat from Record High
Traders often keep a close eye on early Bitcoin whales, whose long-dormant wallets can trigger significant market reactions when moved.
This week, one such whale — holding over 80,000 BTC — sold a substantial portion of their holdings after Bitcoin soared to a new all-time high near $123,000 on Monday.
According to blockchain tracking shared by Lookonchain on X, the whale, who mined Bitcoin during its earliest days, sold 9,000 BTC valued at approximately $1 billion via Galaxy Digital.
Large transactions by whales can heavily influence market sentiment and price movements, given the outsized volumes involved.
The “Satoshi era” refers to the period between 2009 and 2011, when Bitcoin’s anonymous creator, Satoshi Nakamoto, was still active in the community, and Bitcoin traded for mere cents.
Following Monday’s rally, Bitcoin’s price has pulled back below $117,000, a typical market response as investors take profits after rapid gains.
At last check, Bitcoin was hovering just above $117,000, marking a 4.55% decline from its recent peak.
