The Sleeping Bitcoin Whale moves $530 million BTC after 3 years

There have been major changes in the dynamics of the entire cryptocurrency market. Bitcoin (BTC), a leading cryptocurrency, is hitting new highs by the hour. Yesterday, the price of the king-coin reached as high as $107780.58. Whale activity on the BTC markets saw a significant spike. A whale that had been dormant inactivity for a long time made news when it suddenly woke.

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Bitcoin Whale Wakes Up

Arkham data shows that after three years inactivity, the whale has just sent $530,000,000 worth of Bitcoin. This large investor sent the stash of Bitcoin to two different addresses. This address has $420,000,000 while the second one holds exactly 1000 BTC, worth approximately $107,000,000. Last time Bitcoins moved, it was April 2021.

In general, whales were also increasing their positions. There has been an impressive 9.9% increase in just nine weeks of the addresses that hold at least 100 BTC. The number of addresses holding at least 100 BTC has increased from 16,062 up to 17,644. Whale accumulation is increasing. corresponded Bitcoin’s price has increased by 77%. It is clear that the increasing confidence in large holders has a direct correlation with the upward movement of the asset.

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Current Market Scenario

Bitcoin’s price at the time of press was $107 462.10. The price has risen by 2.66% in the last 24 hours. Today, the price of a king’s coin had dropped to $103,377. The asset is currently close to hitting a new high and reclaiming the peak it reached earlier. BTC’s price is just 0.51% lower.

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Bitcoin is worth $80.58 billion. It follows an increase of 25% over the course of the previous day.