Institutional crypto firm Galaxy announced it conducted a $9 billion Bitcoin sale for a Satoshi-era whale, marking one of the largest Bitcoin transactions in crypto history. The sale involved over 80,000 BTC that had been held for 14 years. A blockchain analyst revealed that these coins were likely moved from an early Bitcoin wallet service called MyBitcoin.com, which ceased operations in 2011 due to a hacking incident. Experts suggest such a massive sell-off typically raises concerns about selling pressure in the market, as other investors may follow suit. Despite this significant transaction, Bitcoin’s price only dipped slightly, suggesting stability in the market with the cryptocurrency trading around $117,000, below its all-time high. The large quantity of Bitcoin moved by this whale, which is defined as an entity holding 1,000 BTC or more, has intrigued analysts and investors alike, reflecting a more complicated dynamic in Bitcoin’s extensive market. Recent reports also indicate an increased appetite for BTC among Bitcoin whales, seeking to further accumulate their holdings, further complicating market predictions.

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