Bitcoin Whale Acquires 250 BTC for $26.37 Million After Two Years
A dormant Bitcoin whale purchased 250 BTC for approximately $26.37 million, marking its first activity in two years. This move has generated speculation among traders about potential market trends.
Whale Returns After Two Years
- The whale previously withdrew 500 BTC from Gemini in 2022 when Bitcoin was priced around $27,400, valued at nearly $14 million.
- Current holdings have an unrealized gain exceeding $39 million with Bitcoin's price near $105,000.
A whale that had been dormant for 2 years bought another 250 $BTC($26.37M) 9 hours ago.
2 years ago, this whale withdrew 500 $BTC($13.7M) from Gemini at $27,401, now sitting on an unrealized profit of $39M.https://t.co/c0U92isSfc
— Lookonchain (@lookonchain) June 8, 2025
Big Gains On Early Bet
- This whale's 2022 withdrawal preceded a significant price increase as Bitcoin rose nearly 300% since then.
- Large wallet movements can influence retail trader decisions, potentially creating a buying surge.
Technical Indicators Show Mixed Signals
- BTC is forming an inverse cup-and-handle pattern, with major support at $100,800.
- A dip below this level could lead to a price drop to approximately $91,000.
- RSI is currently at 52, indicating waning bullish momentum; a drop below 50 may trigger selling pressure.
- To regain bullish sentiment, BTC needs to surpass the 20-day EMA resistance just above $105,000.
Market Volatility And Liquidations
- Recent market fluctuations included Bitcoin temporarily falling below $101,000, resulting in nearly $1 billion in liquidations.
- CryptoQuant’s Hash Ribbons indicator suggests potential near-term challenges for miners but hints at future rally possibilities.