Whale Watch — $2 Billion in Bitcoin Awakens, Shifting From Long-Term Hibernation

[sirty143]

Whale Watch — $2 Billion in Bitcoin Awakens, Shifting From Long-Term Hibernation

Arkham Intelligence reports that approximately $2 billion worth of bitcoin, stored in five distinct addresses, experienced movement on Jan. 16, 2024, for the first time since their initial deposit in 2019. Each of these addresses obtained their funds from wallets established on Jan. 15, 2019, following a period of inactivity since 2013, when the bitcoins were initially dormant. See more for yourself here.

Your opinion is greatly appreciated.

[SamReomo]

If I'm not wrong then that whale has moved funds to those wallets because he might be planning to sell the holdings during the high intensity of this bull market.

I'm pretty sure that the main reason for the activity was to ensure that he can easily sell out those Bitcoin during the peak of this bull run and may buy some Bitcoin later when bear market starts.

Those Bitcoin will worth more than $5 Billion if Bitcoin reaches $120k a coin during the peak of the bull market. Most of us predicted Bitcoin to reach $120k and if this whale also thinks similarly then he could make a fortune by selling the Bitcoin holdings at $120k to $110k a coin.

[Aanuoluwatofunmi]

This has always happened, we see them move and keep moving each time, the holders could have a specific reasons for doing that, but for now, I don't think selling of bitcoin could be that profitable except if there's more indication for bear market to loop in and then they can sell to reinvest later, it may also be to just move from one wallet to another or to make investment on any project along the line, where I see this to have nothing to do with the way the market performs.

[robelneo]

We will see more movements like this coming from the whales this is a preparation for the coming bull run if they acquired it back in 2013 that's a huge profit already, the writer does not know if it is company-owned or what the reason behind these movements, these addresses may be company owned and the movement was planned, the owners of these wallets are so lucky because they believe and HODL these Bitcoin for 9 years, that's a long wait but its worth it.

[TomPluz]

I am sure owners of those Bitcoin wallets are thinking of cashing out their digital assets when the bull run can really happen this year. Though it is a little bit sad that there is a good level of correction right now but of course we should be expecting the unexpected with Bitcoin, as far as I am concerned. As in the past, when the market is getting excited, there will be dormant wallets to suddenly come alive as if ending their hibernation period for good. And this must be true also with other coins and tokens in the market.

[Faisal2202]

If I'm not wrong then that whale has moved funds to those wallets because he might be planning to sell the holdings during the high intensity of this bull market.

I'm pretty sure that the main reason for the activity was to ensure that he can easily sell out those Bitcoin during the peak of this bull run and may buy some Bitcoin later when bear market starts.

Those Bitcoin will worth more than $5 Billion if Bitcoin reaches $120k a coin during the peak of the bull market. Most of us predicted Bitcoin to reach $120k and if this whale also thinks similarly then he could make a fortune by selling the Bitcoin holdings at $120k to $110k a coin.

You are right, one of the many possibilities, there is one of selling them but maybe they are giving some warmup to the BTC (hehe) like they might not be planning to sell them instead they are just moving them for other purposes. The profit prediction you have made is the right one, as I also think (or thought) that BTC could reach $110k even $150k but now after seeing the result of ETFs, I can say BTC will merely break the $100k milestone.

Because we can say BTC would break $150k if this ETF news would have helped BTC to cross around $55k or maybe more but it did not, so I don't think halving alone can move BTC to that top. These $2 billion if put aside there are many (around 1 million wallets) that now hold 1 BTC and you can predict the worth of 1 million BTC on your own, and what I think is, these people are all normies (almost) and they will book profit once the market will cross the last halving ATH ($69k)

[ZAINmalik75]

This is a bad thing because the owner of these funds might be thinking of selling these BTC when the right time comes, I am saying it is not right because many newcomers who just joined the cryptocurrency market and invested in BTC and hold thousands of dollars of BTC in there holdings will also dump the BTC. I was reading somewhere that the holdings for 1 BTC have crossed 1 Million accounts which means when they will sell there BTC the supply will overflow!

But there is a catch too because this overflow of supply will be bought by big companies, at least that's what I was hoping but as you all know Grayscal has sold a lot of BTC, and if other companies like Grayscal started to sell the BTC then supply will increase enormously and we might see big dumps. And in another case if these big companies started to buy the supply released by newcomers or profit makers.

Then these big companies will have a big influence over not only the BTC market but they will have the power to manipulate the alts market too. That's why this whole thing looks bad.

[bhadz]

Let us just take that every funds that haven't for so long and they are in big amounts will likely move someday. Nobody knows when but they are also the same as us, investors. So if these tracking alerts seen them move, expect that it is either they are just moving again or some potential sell lffs might happen. When they are in profit, it is no question tht they are going to do that. But I think that they have an idea of when bulls coming and will do that at right timing.

[hugeblack]

If I'm not mistaken, this coins belongs to greyscale
During the past week, Grayscale sold approximately 28,622 Bitcoin, and the buyer was BlackRock. The beginning of investments in Grayscale was in 2019, so it is consistent with what I mentioned.




Therefore, all movements in Bitcoin currencies in the coming days will be according to developments in the ETF market, and those who tend to buy from OTC instead of Spot, so we will see such movements a lot.

[SamReomo]

and what I think is, these people are all normies (almost) and they will book profit once the market will cross the last halving ATH ($69k)

Most of them might not sell their Bitcoin holdings at $69k because if they can hold their Bitcoin for 2 years then why not for 4 years. I think your assumption is valid and there will be a strong resistance at $67k and above it but once that barrier is crosses then Bitcoin can smoothly move to higher values in bull run.

If I'm not mistaken, this coins belongs to greyscale
During the past week, Grayscale sold approximately 28,622 Bitcoin, and the buyer was BlackRock. The beginning of investments in Grayscale was in 2019, so it is consistent with what I mentioned.

If your information is correct then that's a good news for Bitcoin holders because if BlackRock had purchased Bitcoin directly from the market then it could cause huge drop in the value of Bitcoin but by buying Bitcoin from Greyscale the market wasn't impacted even a little bit. I guess it's a good strategy in start but later I'm sure Black Rock will continue to purchase Bitcoin from market but in small quantities.

[Z-tight]

I don’t really care about ‘whale alrerts’, i believe the people who are usually very concerned are people who trade and so they need to know what to anticipate. As a bitcoiner, i know funds can move for many reasons, be it from addresses from which coins have not moved before, it could also be institutional investors buying or moving their funds, but i do not care.

[Hamza2424]

These 2 billion worth BTC might be awakens with the purpose of selling them, but I guess now this amount of selling does not matter that much, like it matter in the past when there was no ETF, the reason is clear, ETFs brought billions of money into it and now it looks normal. I think a time will come trillions will also look normal to us. We poor people 

If I'm not mistaken, this coins belongs to greyscale
During the past week, Grayscale sold approximately 28,622 Bitcoin, and the buyer was BlackRock. The beginning of investments in Grayscale was in 2019, so it is consistent with what I mentioned.

I was aware of this selling by Grayscale but what I did not know was BlackRock has bought it, By seeing the numbers I can say, Grayscale must have big plans for BTC, as they hold hell lot of BTC and they worth billions, maybe trillions. This 2 Billion selling is nothing in front of Grayscale's selling. But the involvement of ETFs have opened billions of money inflow into the BTC which has made it more volatile then before.

This is not good for Future traders, and I heard the news that Option ETF for BTC are also going to approve or I think already approved. This opened a lot of trading volume in BTC and this might give a hard competition to Gold ETF.

[hugeblack]

If your information is correct then that's a good news for Bitcoin holders because if BlackRock had purchased Bitcoin directly from the market then it could cause huge drop in the value of Bitcoin but by buying Bitcoin from Greyscale the market wasn't impacted even a little bit. I guess it's a good strategy in start but later I'm sure Black Rock will continue to purchase Bitcoin from market but in small quantities.

It is true, but in the short term it may have a negative impact, as the purchase is made from OTC, and in fact it is not a purchase, but rather an exchange of currencies from  ---> BlackRock to  ---> Greyscale.

Also, the absence of any interaction in the spot market and Greyscale selling more may lead to an increase in supply and thus a decrease in the price.

I was aware of this selling by Grayscale but what I did not know was BlackRock has bought it, By seeing the numbers I can say, Grayscale must have big plans for BTC, as they hold hell lot of BTC and they worth billions, maybe trillions. This 2 Billion selling is nothing in front of Grayscale's selling. But the involvement of ETFs have opened billions of money inflow into the BTC which has made it more volatile then before.

Grayscale was necessary at that time, but now there are many options and their discount fees were high. Overall, they made gains. If the ETF had not been approved, the trust would have continued, and after it was approved, they had plans for an ETF.
The real question is the seriousness of the continuation of companies like MicroStrategy, especially since it was operating as a Bitcoin proxy.