In a recent transaction, the whale moved another $624,000 worth of Bitcoin to Kraken, a major U.S.-based exchange. Currently holding 1,149 BTC, worth approximately $69.94 million, the whale appears to be selling 10 BTC twice a week. If this trend continues, this unknown entity could unload all of its Bitcoin by mid-November 2025.
What’s behind this activity and how the whale chooses its timing remains a mystery.
The fact that it started mining Bitcoin just five days after it went live also raises de facto questions about its connections to those responsible for launching the first major blockchain and cryptocurrency.
Many crypto market participants see such moves as the intention of serious whales to cash out as they move cryptocurrency from self-storage to platforms with more liquidity and fewer fees.
Interestingly, the market does not feel right at the moment either, as Bitcoin has lost 2.45% in the last 24 hours, hitting a key support zone at $60,000. The ambition to break above $66,000 per BTC and hit a new all-time high in October now looks more challenging than it did 10 days ago.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
