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 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%.
A whale with 1,701 $BTC($115.42M) woke up after 10 years of dormancy and transferred 246 $BTC($16.73M) out 20 mins ago.
The whale received 4,272 $BTC($125,541 at the time) in 2013 at an average price of only $29.39.
Address: 1CLxmHRhoi9VpSj5QihqPEdbhLL8E1oeUZ pic.twitter.com/W45On1Q7vb
— Lookonchain (@lookonchain) April 6, 2024
Lookonchain also outlined another whale’s purchase. This one came just a few hours ago and was for almost 114 BTC ($7.85 million). This investor has been on a buying spree within the past month, having purchased 1,308 BTC since March 6.
Their most recent purchase came amid BTC’s early Sunday price increase. As reported yesterday, the asset had calmed at around $67,000 but continued to increase gradually during the day. The most substantial gains came earlier today when Bitcoin pumped to a 5-day high of $69,800.
Nevertheless, the cryptocurrency has failed to overcome the coveted $70,000 level, at least for now, but still stands north of $69,000.
The post 230,000% ROI in a Decade: Dormant Bitcoin Whale Awakes as BTC Price Heads Toward $70K appeared first on CryptoPotato.
