Institutional crypto firm Galaxy announced a staggering sale of over 80,000 Bitcoin, valued at approximately $9.3 billion, for a prominent Satoshi-era investor. This transaction is highlighted as one of the largest in the history of cryptocurrency and marks a significant exit from digital assets by an early investor. The mysterious whale moved these coins, which had been held for 14 years, raising questions among crypto analysts and indicating a major shift in the market. Blockchain expert JA_Maartun noted that the coins had been traced back to a wallet service, MyBitcoin.com, that was shut down due to a hack in 2011. Despite the massive sale, Bitcoin's price remained relatively stable, showing only a 1% dip and trading around $117,274—nearly 5% below its recent all-time high. The activity of such whales can often lead to increased selling pressure in the market, as their movements are closely monitored by investors.

Source đź”—