Bitcoin Whales Resurface with $5 Million Transaction
A Bitcoin whale that had been dormant for 15 years recently made its presence known by moving 50 BTC that were mined over a decade ago. The wallet containing these coins, originally mined in 2010 when the price of Bitcoin was less than $0.10, has now seen an incredible profit of 93,460,500%. What was once a value of less than $5 is now worth nearly $4.7 million with Bitcoin trading at over $94,000.
This isn’t the first time such a massive profit has been seen in the crypto space. In November 2024, a Bitcoin holder sold 2,000 BTC for approximately $179 million, earning a profit of 150 million percent on their initial investment of just $120.
Are Whales Buying Bitcoin Now?
Recent data from Santiment suggests that Bitcoin whales, defined as wallets holding between 10 to 10,000 BTC, have been increasing their holdings significantly. In just one week, these large investors added 19,255 BTC to their wallets, bringing their total holdings to an all-time high of 13.47 million BTC. This surge in whale activity coincided with an 11.2% jump in Bitcoin’s price, with the cryptocurrency reaching $94,430.89.
Historically, when whales buy more Bitcoin, it often leads to a rise in price. By reducing the available supply in the market, their buying activity can push prices higher, signaling strong market confidence and expectations of further growth.
Glassnode’s latest data also supports this trend, showing that large Bitcoin holders are actively increasing their holdings during the recent price surge. Wallets with over 10,000 BTC are heavily buying, followed closely by those holding 1,000 to 10,000 BTC. Even mid-sized wallets with 100 to 1,000 BTC are starting to accumulate more Bitcoin, indicating a widespread belief in the market’s bullish trajectory.
In conclusion, the recent resurgence of Bitcoin whales and their significant buying activity point towards a strong market sentiment and a bullish outlook for Bitcoin’s price in the near future. With whales piling into Bitcoin once again, it seems that the cryptocurrency is poised for new highs as investor confidence continues to grow.