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Bitcoin Whale Activity: $60M Withdrawal and Historic Wallets Reactivated

A prominent whale withdrew $60 million in Bitcoin from Coinbase, sparking debates on accumulation vs. selling. Meanwhile, ancient wallets from 2013 and 2015 reactivated, moving over $320 million in BTC.
Published on 2025-05-06

Major Bitcoin Withdrawal from Coinbase

A significant Bitcoin transaction was detected by Whale Alert, involving the withdrawal of 629 BTC, valued at approximately $59.3 million, from Coinbase to an unknown wallet. This movement has sparked speculation among crypto enthusiasts, with some suggesting it could be a strategic accumulation by a whale, while others caution against interpreting every transaction as a market signal.

Potential Bitcoin Sell-Off on Coinbase Institutional

CryptoQuant analysts noted a potential large-scale sell-off of Bitcoin on Coinbase Institutional. They highlighted that the Bitcoin premium has dropped recently, aligning with the cryptocurrency's price correction. This indicates possible selling pressure from U.S.-based investors. Additionally, Whale Alert reported a transfer of 2,107 BTC ($197.7 million) to a Coinbase Institutional wallet, which could be part of this sell-off activity.

Historic Bitcoin Wallets Reactivated

In a notable development, two dormant Bitcoin wallets from the Satoshi era were reactivated. One wallet, inactive since 2013, transferred 1,079 BTC ($102.5 million) to a new address, while another, last active in 2015, moved 2,343 BTC ($221.7 million). These transactions occurred shortly after Bitcoin's price dipped below $95,000, raising questions about the motivations behind these movements.

This surge in whale activity and the reactivation of historic wallets highlight the ongoing dynamics in the Bitcoin market, with potential implications for price movements and market sentiment.

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