Bitcoin Whale Awakens After 11 Years, Realizes Over $254 Million Profit from 2700 BTC Transaction

COINOTAG News reported on December 4th that significant on-chain activity has been observed as a long-dormant Bitcoin whale resurfaces after nearly 11 years. This particular whale made its initial accumulation when Bitcoin’s value was a mere $625.84, amassing an impressive 2700 BTC. In a notable transaction that occurred last night at 22:39:07, the whale offloaded the entire stash, realizing profits exceeding $254 million.

This event underscores the volatility and potential liquidity shifting within the Bitcoin market, illustrating how longstanding holders can impact price dynamics when they choose to divest significant amounts. The movement of such a large quantity of Bitcoin may affect market sentiment and trading volumes in the short term, prompting traders to closely monitor further developments in the crypto space.