BTC whale woke up after 5 years: The transfer amount created panic!

A Bitcoin whale transferred 8 thousand BTC ($536.5 million) from his Coinbase cold wallet after 5 years of sleep.
According to blockchain analysis firm Arkham Intelligence, Bitcoin address “1ABww1…mCSKq” moved 8,000 BTC to block 847,490 at 16:26 on June 11.

The whale transferred the Bitcoins to the Binance deposit address “15u4H…rMsLa” 11 minutes later. No testing was done before the two transfers. The Coinbase cold wallet first received 8,000 Bitcoins on December 5, 2018, with many transfers in batches of 200 #BTC .

Although it is not clear whether the #Bitcoin whale withdrew his money or not, it is known that the BTCs in question were purchased for $ 3,750 on December 5, 2018. Bitcoin has increased in value by 1,700 percent since then. BTC whales have been very active lately. A week ago, a Bitcoin wallet from the Satoshi Nakamoto era transferred 687 #BTC worth approximately $44 million to two separate addresses.
While at least one old Bitcoin wallet tends to wake up every month, approximately 1.8 million Bitcoin addresses have been dormant for more than a decade, according to a report published April 24 by Chainalysis and Fortune.

These wallets, excluding Nakamoto's wallet, amount to $121 billion worth of Bitcoin at current prices. However, many of these wallet owners have lost or forgotten the password phrases required to access their Bitcoins, so it is unclear how much of them can be recovered.

Bitcoin experienced a period of decline on June 11, losing 7.5 percent from its local peak of $71,650 on June 7 to $66,250 on June 11.

Despite the decline, the Fear and Greed Index, which tracks sentiment in the crypto market, remains in the “Greed” zone with an overall score of 74 out of 100.
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