According to data provided by Onchain Lens, a Satoshi-era Bitcoin OG recently moved $4.77 billion worth of Bitcoin to a single wallet.
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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.
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The most recent transfer indicates that this selling might continue in the near future.
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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