A bitcoin (BTC) whale holding more than 80,000 BTC sold a chunk their hoard following bitcoin’s ascent to an all-time high around $123,000 on Monday.
The user, who mined the cryptocurrency during the earliest days of the industry — a period known as the Satoshi era after the pseudonymous bitcoin creator — sold 9,000 BTC ($1 billion) via Galaxy Digital, Lookonchain posted on X.
Users with particularly large amounts of BTC, known as whales, have the ability to move the market when they buy or sell bitcoin because of the substantial number of tokens involved.
Satoshi-era bitcoin whales are closely monitored by traders for market signals, particularly when the BTC in their wallets has not moved for a number of years.
The Satoshi era refers to a loose period of between 2009 and 2011 when bitcoin’s pseudonymous creator, Satoshi Nakamoto, was active in the community and BTC was generally priced in cents.
The world’s largest cryptocurrency fell from Monday’s high, dropping below $117,000. Such a slide is quite common following a surge as many users sell coins to bank some profits.
Bitcoin was recently priced just above $117,000, around 4.55% lower than its peak.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
The recent price action echoes the November–January pattern, showing weak conviction among the “buy the…
Morgan Stanley has filed to launch a spot Bitcoin ETF with the ticker MSBT and…
Oil prices slipped as major economies announced joint efforts to stabilize energy markets.Read MoreCoinDesk: Bitcoin,…
BTQ Technologies moved a key Bitcoin (BTC) security proposal from theory to practice on Thursday,…
Bitcoin price started a sharp decline from well above $73,000. BTC is now consolidating and…
Data shows the Bitcoin Coinbase Premium Gap has been positive for the past 25 days,…