Some Bitcoin whales have been dormant for many years but in April that changed for some whales. The whales seem to have awakened the Bitcoins they’ve been holding for years. The biggest whale among them activated 79,957 Bitcoins for the first time after 12 years 1 month and 23 days. At the time the whale received Bitcoins (March 1, 2011), the Bitcoin price was $0.93 and the whale’s 79,957 Bitcoin cost was approximately $74360.
Below you can see information about these whales and the Bitcoins they hold;
1.Whale >> 79,957 Bitcoins -> 12 years 1 month 23 days later -> Bitcoin price => $0.93
2.Whale >> 31,000 Bitcoins -> 12 years 11 months 8 days later -> Bitcoin Price => <$0.01
3.Whale >> 19.414 Bitcoins -> 12 years 8 months 28 days later -> Bitcoin Price => $0.06
4.Whale >> 8,999 Bitcoins -> 12 years 8 months 8 days later -> Bitcoin Price => $0.07
5.Whale >> 8,000 Bitcoins -> 14 years, 1 month, 11 days later -> Bitcoin price => <$0.001
To follow more -> https://bitinfocharts.com/top-100-dormant_9y-bitcoin-addresses.html
When we look at the CDD data from above and below again in April we can see that medium and long-term investors are moving Bitcoin. These data are parallel to the previous situation and both situations are quite negative. It cannot be said that the whales are moving these Bitcoins to sell for sure but when medium and long term investors moved Bitcoin in the past, decreases have been seen in the following days and weeks because these situations can be generally interpreted as “medium and long-term investors are losing their confidence in the market”. As a result of these situations, which may herald a decline, caution should be exercised.
What is CDD ( Coin Days Destroyed )?
Onchain analysis consist of data from blockchain markets, and only reflects bitcoin inflows and outflows to exchanges. These may be interpret both positive or negative, but does not include a certain market outlook whether bullish or bearish. All analysis shared above is for educational purposes, this post does not include any financial advice.
