Bitcoin: 32,000 Dormant BTC Move After 4 years, Sold at $612 million
According to Whalemap, 32,000 Bitcoin (BTC) moved for the first time, after laying dormant since the last bear market of 2018. The movement is another sign that current BTC prices are affecting long-term holders. Although the reason for the movement is not known, it may be speculated that the whale in question might be booking its profits. Another reason could be the rising dollar. Of late, the US Dollar has become a lucrative investment in a risk-averse ecosystem. There is also the possibility that the whale has lost considerable confidence in Bitcoin. However, none of these reasons can be proven, and remain purely speculative. However, Whalemap, has an alternate narrative regarding the coin’s movement. The Twitter handle argued that major investors might be capitulating at the lows. The user noted that such transactions often “signify OTC trades.” This means that someone else was willing to acquire the 32K Bitcoins at current prices. 32,000 Bitcoins belon...