Bitcoin whale moves $188M for first time in 7 years
Summary
A long-dormant Bitcoin wallet moved 2,931 BTC, worth about $188 million, for the first time in seven years. The coins were transferred from wallet “356my” to “bc1qn” while Bitcoin traded near $64,000, implying nearly a 10x gain versus the last active period when BTC was around $6,500. The move fits a broader trend: large whale transfers have dominated Bitcoin inflows to exchanges this year, and about 99% of BTC deposited to exchanges has come from the 10 largest transfers. That concentration is often seen as bearish because whale deposits can precede selling. The transfer adds to ongoing selling pressure, alongside weak spot Bitcoin ETF flows, which saw heavy June outflows despite a brief weekly inflow.
