An early Bitcoin investor who had been inactive for a long time in the cryptocurrency market has resurfaced. According to data shared by the on-chain analytics platform Onchain Lens, a “whale” who accumulated a large amount of $BTC during the years when Bitcoin was trading between $10 and $15, has made its first transfer after approximately 10 months.
According to the data, the investor in question transferred 50 $BTC, with a current market value of approximately $3.22 million, to a new wallet address. Following the transfer, market participants began to speculate on the possible purpose of this move.
Onchain Lens noted that the transaction didn’t directly represent a sale, but it bore similarities to movements seen in wallets linked to the same whale in the past. According to the analysis platform, the investor in question had previously transferred assets to new addresses in a similar manner, sending some of them to institutional crypto service providers like FalconX or centralized cryptocurrency exchanges. Therefore, the latest transfer is being considered as a possible sign of preparation for an over-the-counter (OTC) sale.
OTC (over-the-counter) trading is known as one of the methods that allows large amounts of crypto assets to be bought and sold in the open market without creating sudden pressure on price. Institutional investors and large whales, especially in multi-million dollar transactions, often prefer this method to minimize price fluctuations.
However, experts emphasize that drawing definitive conclusions from a single wallet movement is inaccurate. Large investors may also move assets to different addresses for reasons such as security, updating custody strategies, or wallet consolidation. Therefore, it is stated that a transfer does not necessarily mean preparation for a sale.
*This is not investment advice.
