Bitcoin Whale Activity Raises Market Concerns

An anonymous Bitcoin (BTC) whale, active since 2009, has begun making significant moves that could affect the cryptocurrency market. According to Arkham Intelligence, this early miner, who started mining just five days after the first Bitcoin block was produced in 2009, has sold $4.8 million worth of BTC and continues to sell more.

Recent Transactions

In a recent transaction, the whale transferred another $624,000 worth of Bitcoin to Kraken, a major U.S.-based exchange. The whale currently holds 1,149 BTC, valued at approximately $69.94 million, and appears to be selling 10 BTC twice a week. If this trend persists, the whale could potentially liquidate all its Bitcoin by mid-November 2025.

Speculations on Timing and Identity

The reason behind this activity and the whale's timing remains unclear. The early involvement in Bitcoin mining raises questions about possible connections to the creators of the first major blockchain and cryptocurrency.

Could this be Satoshi Nakamoto?

While this theory seems improbable due to doxxing risks—since the funds are sold through Kraken rather than over-the-counter—the sales are being interpreted as a bearish signal.

Many participants in the crypto market view these moves as indicative of significant whales aiming to cash out, transitioning cryptocurrency from self-storage to exchanges with greater liquidity and lower fees.

Market Reaction

Currently, the market appears uneasy, with Bitcoin dropping 2.45% in the last 24 hours, touching a crucial support level at $60,000. The aspiration to surpass $66,000 per BTC and reach a new all-time high in October now seems increasingly difficult compared to ten days ago.

Originally published on U.Today