Bitcoin whale reawakens after 6 years, deposits 500 BTC worth $46.87 million into Coinbase Prime.

From Investing.com

January 10, 2025 2:00:21 pm:

Bitcoin (BTC) battles $95,000 resistance, experiences market volatility. A dormant whale awakens after 6 years, deposits 500 BTC ($46.87 million) into Coinbase Prime. Whale’s holdings, acquired at $7,000 per BTC six years ago, now worth over $47 million at current market value of $94,400.

Speculation arises on whale’s intent to sell holdings. Analysts suggest whale may capitalize on profits during Bitcoin’s distribution phase. NBA legend Scottie Pippen warns against selling, believes current price movement is a bear trap to lure investors. Market watches whale and other large holders for potential sell-off.

BTC price at $94,404.63, potential profit of $43.7 million if whale sells holdings. Stakeholders anticipate Bitcoin rebound despite market fluctuations. Whale’s activity sparks speculation on market direction. Another large holder with 357 BTC becomes active after 11 years. Market awaits whale’s next moves for clues on Bitcoin’s future trajectory.

Read more at Investing.com: Massive Dormant Bitcoin Whale Awakens After 6 Years: Details By U.Today