Movement of $1.4 Billion Worth of Bitcoin from Whales

Recently, the stagnation in Bitcoin (BTC) prices has increased investor interest, while the return of old Bitcoin whales to activity has become a noteworthy development. Since the beginning of October, a total of 13,000 BTC (approximately $1.48 billion) has been transferred to exchanges. These large wallet holders have started using their long-dormant addresses again.

In particular, a wallet named “BitcoinOG (1011short)” has transferred approximately 13,000 BTC to major exchanges since October 1, including Kraken, Binance, Coinbase, and Hyperliquid. Along with these significant transfers, concerns about a potential wave of selling in the markets have also increased. Another notable movement was executed by Owen Gunden; as of October 21, Gunden transferred 3,265 BTC (approximately $364.5 million) back to the Kraken exchange.

Such large-scale transfers are generally aimed at profit realization or increasing market liquidity. Experts indicate that the inability of Bitcoin prices to surpass the $110,000 level in recent weeks may have led some old investors to reduce their positions. These hefty Bitcoin inflows to exchanges are likely to create additional selling pressure in the markets in the short term. However, according to analysts' views, it will become clearer in the coming days whether these movements will disrupt the long-term trend.