A Bitcoin Whale Sells 9,000 BTC

BTC: $117,134.25

A bitcoin whale holding over 80,000 BTC sold a portion of their holdings following the cryptocurrency’s surge to an all-time high of around $123,000 on Monday.

The user, who mined bitcoin during its early days — known as the Satoshi era after the pseudonymous creator Satoshi Nakamoto — sold 9,000 BTC (valued at $1 billion) through Galaxy Digital, according to Lookonchain on X.

Users with substantial amounts of BTC, referred to as whales, can significantly influence the market when they buy or sell, given the large quantities involved.

Traders closely monitor Satoshi-era bitcoin whales for market signals, especially when the BTC in their wallets remains untouched for years. The Satoshi era, spanning 2009 to 2011, was when Nakamoto was active, and BTC was generally priced in cents.

After hitting Monday’s peak, Bitcoin experienced a drop below $117,000. Such declines are common after surges as many investors sell to secure profits. Currently, Bitcoin is priced just above $117,000, approximately 4.55% lower than its peak.