Large whale moved 1,770 BTC ($112M) after 2 years dormancy, realizing ~$19.8M loss; 114 BTC sent to Kraken for likely sale.
Macro & Markets ·
A whale holding approximately 1,770 BTC moved its dormant position after roughly two years, incurring an estimated $19.8 million loss on the transaction. The Bitcoin, valued at around $112.14 million at the time of movement, had been worth approximately $131.91 million when originally received from Gemini. The whale split the holdings, directing 114 BTC (~$7.23 million) to Kraken—a move typically signaling intent to sell—while transferring the remaining 1,650 BTC (~$104.91 million) to a newly created wallet.
The timing of the reactivation after an extended dormancy period suggests either a forced liquidation or a deliberate decision to exit the position at current prices, crystallizing the loss. The partial routing to an exchange contrasts with the majority allocation to a fresh address, which may indicate either caution around immediate selling pressure or an intent to hold the bulk of the remaining position.
The whale's subsequent trading activity and whether the Kraken-bound BTC will be sold remain to be seen. The address can be tracked via Nansen's profiler for further monitoring of holdings and movements.