Bitcoin Slips Under $117K as Early Whale Liquidates 9K BTC for $1 Billion+

Satoshi-Era Whale Cashes Out $1 Billion in Bitcoin as Price Slips Below $117K

Traders pay close attention to whales from Bitcoin’s early days, as movements from wallets that have sat idle for years can send strong signals to the market.

This week, one such whale—who holds more than 80,000 BTC—sold a significant portion of their holdings after Bitcoin reached an all-time high near $123,000 on Monday.

Blockchain data shared by Lookonchain on X revealed that the early miner sold 9,000 BTC, worth roughly $1 billion, through Galaxy Digital.

Whales, or individuals and entities with large Bitcoin holdings, can influence market prices significantly when they choose to buy or sell due to the size of their transactions.

The term “Satoshi era” describes Bitcoin’s infancy from 2009 to 2011, when its mysterious creator, Satoshi Nakamoto, was still active, and the cryptocurrency was valued at just a few cents.

Following the record price, Bitcoin has since declined below $117,000, a typical correction as investors lock in profits after sharp gains.

At last report, Bitcoin was trading slightly above $117,000, down about 4.55% from its recent peak.