A prolonged Bitcoin whale from the period of Satoshi has moved over $ 1.1 billion worth of bitcoin to centralized exchanges in recent times, raising concerns of a possible market correction during a typical low-liquid weekend.
After touching their stash since 2011, the Satoshi -ra Whaleor large cryptocurrency investors, first moved 40,000 Bitcoin (Btc) costs more than $ 4.6 billion on July 15, followed by a second Transaction of 40,000 BTC On July 18 to Galaxy Digital, cointelegraph reported.
According to To blockchain intelligence platform lookonchain, Galaxy Digital has since switched to more than 10,000 BTC – costs about $ 1.18 billion – in major crypto exchanges, including Binance, Bybit, Bitstamp, Coinbase and OKX.
“The 10,000+ $ BTC comes from Bitcoin OG holding 80,009 $ BTC ($ 9.68B),” Lookonchain told X.
Multibillion-dollar whale shifts, paired with new auditing requirements implemented by the guide and establishment of national change for US stablecoins, or Genius Acthas caused concerns over industry observers in a Potential Correction of Bitcoin.
“That’s just the biggest bubble and financial history fraud: Bitcoin. It’s fully deprived of fake money printed by thin air,” said Jacob King, financial analyst and the CEO of Whalewire, on a July 18 x x Post.
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But from a historical point of view, “the whale movements are not constantly preceded by significant market corrections,” the analysts from the Bitfinex Exchange to the cointelegraph said, increasing:
“This whale movement, though the eye-catching eye, should not forget the constructive momentum that the crypto industry gets in the face of regulation.”
Long-term whales that “re-contact the network” can signal a greater move toward “prepared for the next institutional cycle,” instead of a bearish pivot, the analysts said.
Whale’s sale may be absorbed
Despite concerns over a broader correction, some industry observers have said that the $ 9.6 billion sale of bitcoin can all be absorbed by the cryptocurrency market.
OnChain Analyst Embercn Says At X about 12,000 BTC, or $ 1.38 billion, will remain for sale. He added that the whale is likely to remove the assets by a combination of over-the-counter (OTC) and secondary market sales:
“This means that the (80,000 BTC ancient whale) is likely to have about 12,000 BTC ($ 1.38 billion) to sell, and the current liquidity in the market, which absorbs the rest of these coins should not have a significant effect.”
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Some industry observers suggest motions that reflect a deeper transition to the crypto market structure.
Recent whale transfers suggest “Bitcoin’s cycle theory is dead,” according to Ki Young Ju, founder and CEO of Blockchain Analytics Cryptoquant platform.
“Last cycle, the whales sold in retail. At this time, old whales sell on new long -term whales,” Ju said on a Friday X PostAdding:
“Institution’s adoption is greater than we thought. The feeling of trade is pointless. Holders now are more than merchants.”
Other crypto analysts also taught in the launch of funds exchanged by the US bitcoin exchange and the Growing Institutional investment As a Disruptor for Traditional four -year theory of bitcoin cycle.
Moreover, the growing institutional investment from companies such as Strategy, Tether and metaplanet May Speed up the traditional Bitcoin cycle And reaching the new all-time highs, Vugar Usi Zade, chief operating officer at the Bitget Exchange, told Cointelegraph.
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