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Owen Gunden is once again on blockchain radar, and once again, it is the spot Bitcoin market that gets all the attention, as one of the best known Satoshi-era billionaires moves a fresh tranche of coins straight onto a major U.S. exchange, Kraken.
According to Arkham’s intel dashboard and Onchain Lens, a mysterious investor deposited 2,401 BTC more into Kraken, a single transfer worth $244.96 million that landed just a few hours ago.
Earlier this month, his addresses were already causing panic among crypto market participants; with big internal jumps between legacy wallets, several thousand BTC were moved around in what looked like consolidation of an old treasury rather than routine trading activity.
However, until today, most of those flows stayed inside Gunden's own ecosystem. Now, with 2,401 BTC actually landing on Kraken and the remaining balance still sitting at 2,499 BTC — around $258.58 million at current prices — the story naturally turns from "whale is reorganizing" to "whale is actively getting ready to sell."
Satoshi-era market
Onchain Lens, the account that first highlighted the move, treats Gunden as a textbook example of how little supply early adopters need to move in order to set the tone for the day. These are not ETF flows, not market-maker inventory, but coins that were accumulated when Bitcoin was trading for double or even triple digits, long before derivatives or structured products existed.
Even though Bitcoin now trades above $103,000 with deep liquidity on paper, a deposit of a quarter of a billion dollars from a Satoshi-era billionaire into a single U.S. venue is still enough to make traders question who controls the next big move: the new institutional money or the old wallets that could wake up at any time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team