Dormant Bitcoin Whale Stuns Binance With Massive BTC Sale

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As a seasoned researcher who has been closely following the crypto market for over a decade now, I find this recent development involving the 5-year-old Bitcoin whale quite intriguing. The timing of this sale, following the Fed’s dovish pivot and subsequent Bitcoin price surge, adds an interesting layer to the narrative.

Based on information from OnchainDataNerd, an analytics account on the X social media platform (previously known as Twitter), it appears that a significant Bitcoin sell-off has been started by a cryptocurrency whale who had previously been inactive.

According to the mentioned data source’s recent tweet, it has been five years since this particular whale has been active, and that activity involved purchasing approximately 950 BTC on the global exchange platform, Huobi.

Currently, those individuals are offloading their Bitcoins on the Binance exchange market. The crypto enthusiast @OnchainDataNerd recently shared news about a significant player transferring 301 Bitcoins to Binance, which translates to around $18.57 million in today’s value.

Should this Bitcoin be offloaded, the whale is expected to reap a realized profit of approximately $15.47 million, as per the information provided.

7 hours past, a young Bitcoin investor with the username 193EL transferred 301 BTC (approximately $18.57 million) to Binance. If he were to sell all at the current price, his realized gain would amount to $15.47 million.— The Data Nerd (@OnchainDataNerd) September 19, 2024

5 years ago, a cryptocurrency investor bought 801 Bitcoins on the Huobi platform at a price of approximately $8.25 million. As of now, this significant investor continues to own 500 BTC, which is currently valued at around $34.58 million. This implies an estimated potential profit of nearly $29.4 million if the Bitcoins were sold today.

In the last day, Bitcoin saw approximately a 5% rise in value. This surge came after the U.S. Federal Reserve declared a shift towards more accommodative monetary policy with a reduction of 50 basis points in interest rates.

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2024-09-19 16:14