A mysterious Bitcoin ($BTC) whale, or whale, is displacing huge amounts of coins that have lain dormant for a decade, according to data from the Bitcoin blockchain, which shows some long-term holders are moving out of their stashes during bear markets.
According to Philip Swift, creator of on-chain analytics tool LookIntoBitcoin, a total of 510.65 BTC worth about $10 million was moved last week alone. Notably, these movements come after BTC prices fell from $69,000 to around $19,000 in a prolonged bear market at the time of writing. BTC's low this cycle was just above the $18,000 mark.