A dormant Bitcoin whale has resurfaced after more than eight years and moved over $250 million worth of BTC, according to blockchain analytics firm Arkham Intelligence.
The whale, who first acquired Bitcoin in late 2016, had been holdings in a single address for nearly a decade. In early 2017, the whale’s BTC holdings were worth around $3 million. Today, the same assets are worth over $250 million due to Bitcoin’s massive price increase over the years.
The sudden movement at this long-inactive address has led to speculation about the whale’s intentions. Such movements typically precede market changes, as large holders may be either preparing to sell or reallocating funds for other purposes.
Adding to market concerns, the Bitcoin Exchange Whale Ratio (a metric measuring the ratio of the top 10 fund inflows to total exchange inflows) has reached levels not seen since last year.
A rising whale ratio typically indicates that a significant portion of Bitcoin deposits on exchanges are made by large-scale holders.
*This is not investment advice.
