A whale that bought $30.4 million worth of Bitcoin in late 2018, during perhaps the most severe bear market conditions of the period, woke up 5.5 years later. The whale sent 8000 BTC to the Binance exchange.

Bought at $3800

Bitcoin, which reached $20 thousand at the end of 2017 and broke the record of the period, then entered a long and harsh 3-year bear season. The whale waiting for the declines sent 8000 BTC, which it bought on December 6, 2018, to the Binance exchange 5.5 years later, most likely for profit realization. If the whale sells, its profit will be $505 million.

Miners also started selling

On the other hand, Julio Moreno, head of research at on-chain data tracking platform CryptoQuant, touched on the recent miner sales:

“Yesterday (*March 10), we witnessed the largest daily miner sell-off since March. Some large companies are selling to cover their costs. However, these sales are not through exchanges, but through OTCs.”

Therefore, Moreno does not think that this sale of 8000 BTC was made by a miner.