An ancient Bitcoin whale has resurfaced, moving 10 BTC worth $610,000 to Kraken after nearly a decade of silence.
As institutional interest grows, they are now buying about 7,000 BTC daily, the highest rate since July.
The approaching HBO documentary started again speculation about Satoshi Nakamoto, possibly connecting him to late cryptographer Len Sassaman.
The Kraken exchange acquired at least ten BTC, valued at $610,000, from a Bitcoin whale who mined Bitcoin within a month of its establishment in 2009. The surprise transfer has taken place after almost a decade of inactivity. More importantly, the whale wallet still remains with an excess of 1,200 BTC, which is roughly worth about $72.5 million now.
https://twitter.com/Crypto_TownHall/status/1842459084663964021 Bitcoin Whale's Movement and Market Impact
Arkham Intelligence discovered that this whale sent 221 BTC to Kraken, with a further 5 BTC sent on September 24th. The whale possesses over 1,200 BTC worth $72.5 million. Surprisingly, Bitcoin's price rose to $62,376 on October 4, 2024, as stronger-than-expected US job numbers bolstered market sentiment. Institutional investors have shown a interest, acquiring approximately 7,000 BTC each day.
Furthermore, Bitcoin's liquidity on exchanges has been falling, having reached a six-year low, indicating a positive trend. Lower liquidity mixed with increased demand creates upward price pressure, indicating that Bitcoin's climb may continue.
HBO Documentary Fuels Satoshi Nakamoto Speculation
The release of the upcoming HBO documentary "Money Electric: The Bitcoin Mystery" has reignited discussion about Bitcoin's inventor. The video, directed by Cullen Hoback, delves into the history of Bitcoin and may relate the late cryptographer Len Sassaman to Nakamoto's identity. Sassaman died in 2011, shortly after Nakamoto's last public appearance, sparking speculation that he was connected to the enigmatic founder.
Institutional investors, who were initially sellers in September, have reversed course and are now purchasing Bitcoin at rates not seen since July. Analysts say that the present interest in Bitcoin, together with the drop in the amount stored on exchanges, resembles patterns witnessed at the time of Bitcoin's peak in 2021. They expect that with declining supply and rising demand, Bitcoin mayl reach new all-time highs by the end of 2024.
The post Bitcoin Whale Surfaces After a Decade, Sparking Market Excitement and Satoshi Theories appeared first on Crypto News Land.
