A series of noteworthy transactions are taking place in the cryptocurrency markets. An old Bitcoin wallet, which had been inactive for 12 years, transferred 306 BTC (approximately $35.37 million) today.
This ancient investor purchased the BTC in question for a total of $23,700 12 years ago, when Bitcoin was just $77. At today’s prices, that investment is worth approximately 1,493 times.
However, such profit-taking also creates a sense of caution among investors. Historical data shows that August and September are generally weak months for Bitcoin. In eight of the last 12 years, BTC prices have fallen during these two months. This suggests a 67% probability of a decline.
Meanwhile, whale activity is also observed on the Ethereum front. A whale named “0xF436” has withdrawn a total of 14,520 ETH (approximately $53 million) from exchanges in the last nine hours. This purchase follows a massive 38,606 ETH (approximately $148.44 million) purchase made by the whale for SharpLink Gaming just five days ago.
Another notable move came from a whale with the short address “0xd8d0.” This whale spent a total of 178.36 million USDC in the last five hours, purchasing 893 BTC ($103.5 million) and 20,000 ETH ($74.06 million). The transaction was made through Wintermute and Coinbase.
*This is not investment advice.
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