Dormant Bitcoin Whale Awakes as BTC Price Heads Toward $70K

Bitcoin’s price recovery continues as the asset jumped to over $69,000 and came close to challenging $70,000 hours ago.

This price fluctuation comes amid increased activity from large BTC investors, according to on-chain data.

BTCUSD. Source: TradingView

The first whale move was observed by several on-chain data providers, such as Lookonchain and Twitter.com/whale_alert/status/1776555778633007127″ data-wpel-link=”external” target=”_blank”>Whale Alert. The resources informed that a Bitcoin investor who had accumulated a notable stash of nearly 4,300 BTC a decade ago at an average price of less than $30 had decided to move a small portion.

Interestingly, this was the anonymous whale’s first Bitcoin transfer (at least for this wallet) in just over ten years. They moved 246 BTC, worth close to $17 million at yesterday’s prices.

Given their average purchasing price of $29.39 in 2013, this whale’s ROI since then is a mindblowing percentage of 230,000%.