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An early Bitcoin miner, who had been inactive since 2009, moved $630,000 worth of BTC to Kraken. This latest dump follows over $5.47 million in transfers, but the whale continues to hold a massive $75.2 million in Bitcoin, fueling further speculation about the next move.
Dormant Bitcoin Whale Sends $630K to Kraken
An enormous Bitcoin holder who mined the coin five days after its creation in 2009—and hadn't dealt with it since—has sent an additional $630,000 to the cryptocurrency exchange Kraken.
According to a post on Oct. 14 X by blockchain data firm Arkham Intelligence, the "ancient Bitcoin whale" had transferred $5.47 million worth of Bitcoin to Kraken over the last two months.
Whale Wallet Still Holds $75.2M in Bitcoin
Furthermore, the whale wallet continues to hold $75.2 million worth of BTC, regardless of the recent transfers, it noted.
The remaining 1,127 Bitcoin in the wallet were transferred to another address after the transfer, Cointelegraph shares.
Some owners may be trying to cash out while the transfers are happening, even though Bitcoin addresses from the blockchain's early days seldom move funds.
More Dormant Whales Awakening to Transfer Millions
Kraken received 10 Bitcoin, valued at $610,000, on October 3 from an additional early Bitcoin whale. It had lain inactive for at least ten years, according to Arkham.
The company found another whale in September; this one woke up fifteen years later to transfer sixteen million dollars to Kraken after mining Bitcoin for two months after the blockchain went live.
Bitcoin Value Surges as Whales Make Big Moves
The whale appears to be planning to sell off some of their holdings because Bitcoin has been steadily increasing in value over the past week, adding 7.45% and reaching over $67,000.
The value of Bitcoin has gone through extreme fluctuations in the past year, with a low of $28,000 and a high of $73,000 in March being its lowest and highest points, respectively.
Market Sentiment Enters 'Greed' Territory
The market sentiment-tracking Crypto Fear & Greed Index has also been trending upwards, with the most recent update on October 16th scoring 73 out of 100, firmly in the "Greed" zone that it has maintained for the past two days.
On July 29, when Bitcoin valued approximately $66,000, the index last registered a score higher than 73.
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