Bitcoin Whale Moves 4,582 BTC After Six Years

A Bitcoin whale has transferred 4,582 BTC worth approximately $377.6 million to five separate receiving addresses after holding the assets for more than six years, according to blockchain analytics platform Lookonchain. The movement comes as Bitcoin faces renewed selling pressure near $83,000.

Transfer Details

Blockchain records cited by CryptoNews show that the sending wallet originally received the 4,582 BTC on March 3, 2020. At that time, the holdings were valued at approximately $40.8 million, with Bitcoin trading near $8,900. The funds initially originated from Bitcoin address 17VX1BEjYVyBMi2vw6nXDrpwMvCSweHZot and remained largely untouched through the March 2020 market crash.

Out of the five receiving addresses, four obtained 1,000 BTC each, while the fifth received approximately 582 BTC. At the time of reporting, the recipient addresses had not been identified as exchange deposit wallets, and no confirmed sale accompanied the transfer.

Market Context

CryptoQuant analyst Darkfost reported negative Coinbase premiums during the same period, suggesting relatively stronger selling pressure among U.S. market participants. The volume-weighted Coinbase Premium Index has remained deeply negative, pointing to weaker demand or heightened selling activity on Coinbase amid broader macroeconomic factors.

Key facts

• Lookonchain identified a transfer of 4,582 BTC worth approximately $377.6 million from a dormant wallet.
• The sending wallet originally acquired the coins in March 2020 for about $40.8 million.
• The funds were split across five addresses, with four receiving 1,000 BTC each and the fifth receiving 582 BTC.
• CryptoQuant reported negative Coinbase premiums indicating stronger selling pressure among U.S. participants.