Satoshi-era whale selling $70 million worth of Bitcoin, causing bearish sentiment in the market.

From Investing.com

October 10, 2024 10:30 AM:

An anonymous BTC whale from 2009 has sold $4.8 million of Bitcoin and continues to unload more. With 1,149 BTC valued at $69.94 million, the whale is selling 10 BTC twice weekly, possibly emptying its holdings by mid-November 2025.

The whale recently moved $624,000 worth of Bitcoin to Kraken, a US exchange. The sudden activity raises questions about its origins and intentions. Some speculate if it could be Satoshi Nakamoto, although such bold moves are viewed as bearish signals.

Crypto market participants interpret the whale’s actions as a sign of big holders cashing out. Bitcoin price has declined by 2.45% in the last 24 hours, struggling to surpass $66,000 and achieve a new record high in October amid a bearish market sentiment.

Read more at Investing.com: 2009 Satoshi-Era Whale Begins $70 Million Bitcoin Sell-Off By U.Today