According to data provided by Onchain Lens, a Satoshi-era Bitcoin OG recently moved $4.77 billion worth of Bitcoin to a single wallet.
Advertisement
As reported by U.Today, the massive whale recently transferred 40,009 BTC ($4.69 billion) to Galaxy Digital.
The move was believed to be the key reason behind Bitcoin's rapid correction.
The most recent transfer indicates that this selling might continue in the near future.
Advertisement
Bitcoin is currently trading at $118,438 after adding 0.6% over the past 24 hours, according to CoinGecko data.
Despite the growing role of institutional players, anonymous whales remain influential market players.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team