🔥🫨😳BTC Whale Awakens After 5 Years: $536.5 Million Transfer Sparks Panic🫨😳

1. Whale Activity:

- A Bitcoin whale moved 8,000 BTC (worth $536.5 million) from a Coinbase cold wallet after 5 years of inactivity.

- The transfer occurred on June 11 at 16:26 to block 847,490, according to Arkham Intelligence.

- The BTC was moved to a Binance deposit address 11 minutes later without any preliminary testing.

2. Historical Context:

- The Coinbase wallet initially received these Bitcoins on December 5, 2018, in batches of 200 BTC each.

- The Bitcoins were purchased at $3,750 each, appreciating by 1,700% since then.

3. Market Impact:

- Bitcoin saw a 7.5% decline on June 11, dropping from $71,650 to $66,250.

- Despite the decline, the Fear and Greed Index remains in the “Greed” zone with a score of 74 out of 100.

4. Dormant Wallets:

- According to Chainalysis and Fortune, 1.8 million Bitcoin addresses have been dormant for over a decade, amounting to $121 billion at current prices.

- Many of these wallet owners have lost or forgotten access, making recovery uncertain.

5. Recent Whale Activity:

- BTC whales have been active lately, with a notable transfer of 687 BTC from a Satoshi Nakamoto-era wallet just a week earlier.

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