{"id":552141,"date":"2023-09-20T15:00:04","date_gmt":"2023-09-20T15:00:04","guid":{"rendered":"https:\/\/wncen.com\/?p=552141"},"modified":"2024-06-11T07:09:34","modified_gmt":"2024-06-11T07:09:34","slug":"bitcoin-whale-56-million","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-whale-56-million\/","title":{"rendered":"Bearish Signal? Bitcoin Whale Wakes Up From 6-Year Slumber And Transfers $56 Million"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Movement of dormant Bitcoin addresses has been sporadic this year, with most causing a stir and rising interest amongst the Bitcoin community. In the latest record of whale transactions this year, on-chain data has shown that a set of dormant Bitcoin from 2017 has moved for the first time in six years.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Peckshield, a blockchain security and data analytics firm, revealed in a tweet that the previously inactive address, which held 2,100 BTC has just become active, with its assets now transferred to a different address.\u00a0<\/span><\/p>\n<h2>Whale Wakes Up From Slumber, Moves $56 Million<\/h2>\n<p><span style=\"font-weight: 400\">According to <\/span><a href=\"https:\/\/bitinfocharts.com\/bitcoin\/address\/13RLtGaeT4mWsNioddpx5w8LHc3Sa4fPXs\" rel=\"nofollow\"><span style=\"font-weight: 400\">data from BitInfoCharts<\/span><\/a><span style=\"font-weight: 400\">, this Bitcoin address initially had its first Bitcoin transaction of 2099.99 BTC on October 10, 2019. At the time, Bitcoin was trading at $5,618, putting the total value of the transaction at $11.79 million. Bitcoin has <\/span><a href=\"https:\/\/wncen.com\/press-releases\/millions-of-millennials-increasingly-adopting-bitcoin-and-high-growth-tokens-like-qube\/\"><span style=\"font-weight: 400\">grown substantially<\/span><\/a><span style=\"font-weight: 400\"> since then, with a unit now going for $27,140 at the time of writing.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/10000-xrp-price\/\">Is $10,000 Possible For XRP Price? Crypto Analysts Weigh In<\/a><\/div>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#PeckShieldAlert<\/a> A dormant <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BTC<\/a> address 13RLtG&#8230;PXs, which received ~2,100 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> (worth about $11.8M at the time of transfer) on October 19, 2017, moved its <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> (now worth ~$56.3M) to a new address 1LGnp5&#8230;GgM. <a href=\"https:\/\/t.co\/rchpCTI1va\" rel=\"nofollow\">pic.twitter.com\/rchpCTI1va<\/a><\/p>\n<p>\u2014 PeckShieldAlert (@PeckShieldAlert) <a href=\"https:\/\/twitter.com\/PeckShieldAlert\/status\/15979675?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 19, 2023<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">The cumulative balance in the wallet address has experienced a significant increase to $56.3 million at the point of transfer, indicating a substantial profit of $44.5 million. However, on-chain data shows that the worth of these holdings reached $121 million during the crypto market bull run in 2021.\u00a0<\/span><\/p>\n<h2>Bearish Signal?<\/h2>\n<p><span style=\"font-weight: 400\">The whale transfer in question appears to have added an air of mystery and excitement to an otherwise dull week of Bitcoin. When <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-whale-moves-3-7k-btc-dormant-10-years-ago\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">a large amount of BTC suddenly moves<\/span><\/a><span style=\"font-weight: 400\">, it can spark interest from other traders, causing temporary price fluctuations, especially when they are sold off.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/negSuJyT\/\" alt=\"Bitcoin price chart from Tradingview.com (BTC whale)\" width=\"2884\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">BTC price clears $27,000 resistance | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">It is currently unclear the motive behind the transfer of these coins, as the owner could be gearing up for a selloff or transfer into a safer wallet. This move could be bearish, though, if they decided to sell all of their holdings.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/crypto\/lawyer-cryptoqueen-onecoin\/\">Lawyer Involved In Cryptoqueen\u2019s OneCoin Scam Receives Shocking Response From Court<\/a><\/div>\n<p><span style=\"font-weight: 400\">It could introduce a fair amount of selling pressure on Bitcoin and cause the price to drop, at least temporarily. However, on-chain data shows that the 2,100 BTC are still held in a private address, &#8220;1LGnp&#8221;, showing they are probably still in self-custody.\u00a0<\/span><\/p>\n<h3>Bitcoin Worth $24.88M Resurfaces from 2012 Wallets<\/h3>\n<p><span style=\"font-weight: 400\">In another series of transactions this week, a set of dormant Bitcoin from 2012 has moved for the first time in 11 years. The Bitcoin cache, which total $24.88 million in today&#8217;s BTC price, was moved in <\/span><a href=\"https:\/\/blockchair.com\/bitcoin\/address\/1HRFPwXW4nLCKumc8VtTbKwhkyAszN2onU\" rel=\"nofollow\"><span style=\"font-weight: 400\">five <\/span><\/a><span style=\"font-weight: 400\">transactions, making it unclear if they belonged to one person. However, findings from on-chain data show a higher chance of them belonging to one entity due to their acquisition dates.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Similarly, one of the earliest Bitcoin wallets holding 1,005 BTC was <\/span><a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-wallet-1005-btc-awakens\/\"><span style=\"font-weight: 400\">awakened last month<\/span><\/a><span style=\"font-weight: 400\">. These cryptocurrencies were acquired for less than $1 each in 2010, during the first year of Bitcoin&#8217;s creation.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from CryptoSlate, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Movement of dormant Bitcoin addresses has been sporadic this year, with most causing a stir and rising interest amongst the Bitcoin community. In the latest record of whale transactions this year, on-chain data has shown that a set of dormant Bitcoin from 2017 has moved for the first time in six years.\u00a0 Peckshield, a blockchain security and data analytics firm, revealed in a tweet that the previously inactive address, which held 2,100 BTC has just become active, with its assets now transferred to a different address.\u00a0 Whale Wakes Up From Slumber, Moves $56 Million According to data from BitInfoCharts, this Bitcoin address initially had its first Bitcoin transaction of 2099.99 BTC on October 10, 2019. At the time, Bitcoin was trading at $5,618, putting the total value of the transaction at $11.79 million. Bitcoin has grown substantially since then, with a unit now going for $27,140 at the time of writing. Related Reading: Is $10,000 Possible For XRP Price? Crypto Analysts Weigh In #PeckShieldAlert A dormant #BTC address 13RLtG&#8230;PXs, which received ~2,100 $BTC (worth about $11.8M at the time of transfer) on October 19, 2017, moved its $BTC (now worth ~$56.3M) to a new address 1LGnp5&#8230;GgM. pic.twitter.com\/rchpCTI1va \u2014 PeckShieldAlert (@PeckShieldAlert) September 19, 2023 The cumulative balance in the wallet address has experienced a significant increase to $56.3 million at the point of transfer, indicating a substantial profit of $44.5 million. However, on-chain data shows that the worth of these holdings reached $121 million during the crypto market bull run in 2021.\u00a0 Bearish Signal? The whale transfer in question appears to have added an air of mystery and excitement to an otherwise dull week of Bitcoin. When a large amount of BTC suddenly moves, it can spark interest from other traders, causing temporary price fluctuations, especially when they are sold off.\u00a0 BTC price clears $27,000 resistance | Source: BTCUSD on Tradingview.com It is currently unclear the motive behind the transfer of these coins, as the owner could be gearing up for a selloff or transfer into a safer wallet. This move could be bearish, though, if they decided to sell all of their holdings.\u00a0 Related Reading: Lawyer Involved In Cryptoqueen\u2019s OneCoin Scam Receives Shocking Response From Court It could introduce a fair amount of selling pressure on Bitcoin and cause the price to drop, at least temporarily. However, on-chain data shows that the 2,100 BTC are still held in a private address, &#8220;1LGnp&#8221;, showing they are probably still in self-custody.\u00a0 Bitcoin Worth $24.88M Resurfaces from 2012 Wallets In another series of transactions this week, a set of dormant Bitcoin from 2012 has moved for the first time in 11 years. The Bitcoin cache, which total $24.88 million in today&#8217;s BTC price, was moved in five transactions, making it unclear if they belonged to one person. However, findings from on-chain data show a higher chance of them belonging to one entity due to their acquisition dates.\u00a0 Similarly, one of the earliest Bitcoin wallets holding 1,005 BTC was awakened last month. These cryptocurrencies were acquired for less than $1 each in 2010, during the first year of Bitcoin&#8217;s creation. Featured image from CryptoSlate, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":552154,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,15232,1119,89185,1122,84962,1144,78790,14896],"class_list":["post-552141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-whale","tag-btc","tag-btc-news","tag-btc-price","tag-btc-whale","tag-btcusd","tag-btcusdt","tag-whale"],"acf":[],"yoast_head":"\n<title>Bearish Signal? Bitcoin Whale Wakes Up From 6-Year Slumber And Transfers $56 Million<\/title>\n<meta name=\"description\" content=\"Movement of dormant Bitcoin addresses has been sporadic this year, with most causing a stir and rising interest amongst the community.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-whale-56-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bearish Signal? 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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