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Bitcoin Pause Now: Transfer 2.819 BTC After 8 Years Dormant
The Bitcoin whale has shown signs of activity now after a long period of inactivity. According to the latest report from PANews, a wallet identified as 1NY5Kh transferred a large amount of funds, marking the end of an eight-year dormancy.
Latest Activity of Major Bitcoin Holders
This Bitcoin whale transferred a total of 2,819 BTC in its most recent transaction. This movement has caught the crypto community’s attention given the long time since the address last showed on-chain activity. In the current market context where BTC is trading around $70.70K, wallet movements containing large assets like this become an important signal followed by traders and investors.
Significant Transfer to Paxos Platform
Of the total Bitcoin transferred, most—namely 1,500 BTC—was moved to Paxos, a leading platform for digital asset custody. This choice indicates a possible institutional strategy or long-term planning by the wallet holder. Paxos is known as a trusted partner for managing large-scale digital assets.
Significance of Whale Movements in the Current Market
Whale activity like this has a psychological impact on the market. When large holders make transactions after a long dormancy period, it is often interpreted as an indicator of market sentiment. Analysts continue to monitor whale movements to understand trends and potential price fluctuations in the future.