Mysterious Bitcoin Whale: $450M Speculation
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Experts in the blockchain community have proposed various theories, with some suggesting it may be part of a crypto exchange's cold storage strategy, given the absence of outgoing transactions and a pattern of sizable incoming transfers. Others speculate that institutional investors are preparing for the potential approval of Bitcoin ETFs, citing a daily buying streak by the mystery whale.
BitMEX Link Explored, Dormant Wallet Stirs $112M Bitcoin Transfer
Chris Martin, Director of Research at Amberdata, hinted at a possible connection with BitMEX, as funds from BitMEX hot wallets constitute a significant portion of the influx to the "bc1qc" address. However, he acknowledged the slim chance of a large investor withdrawing from BitMEX, leaving room for speculation.
Meanwhile, in a surprising development, a dormant Bitcoin wallet, inactive for over four years, reappeared, transferring its entire holding of 3,623 BTC, now valued at $136.94 million, to two new wallets. This move follows a profitable acquisition of BTC between October 25, 2018, and December 31, 2019, with the current market value representing a staggering $112 million profit.
As Bitcoin approaches the $40,000 threshold, and amid a resurgence of dormant whales making substantial transfers, the cryptocurrency market is on edge, anticipating potential impacts on broader market trends and investor sentiment.