$BTC whales active almost a decade ago are back on the market after the first cryptocurrency plunged below $20,000
might also join the selling side and start dropping their holdings to avoid further losses. Usually, such a tendency is one of the first signs of capitulation among investors.
If history is destined to repeat itself, we will see the reversal on the cryptocurrency market in the foreseeable future.According to block data, 5,000 10-year-old Bitcoins were transferred at that exact moment. Despite the significance of the transaction, it is a relatively small transfer for such an ancient wallet.Previously, similar wallets were moving up to 100,000 BTC in a short period, creating enormous pressure on the market.
In high volatility periods, investors tend to split their holdings among different wallets to manage their wealth more effectively. But even if those funds are transferred for selling, such a large amount of coins would most likely go through an OTC trading desk rather than being dumped on the
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