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Bitcoin whales are taking profits more often

Activity by large Bitcoin investors (also known as "whales") has surged due to recent price moves.

By Mike Hesp
• 2 min read
Bitcoin whales are taking profits more often

The activity of large Bitcoin investors (also known as "whales") has surged due to recent price movements. According to the data analytics service Santiment, shared on the platform X, the number of large Bitcoin transactions (over $100,000) rose to its highest level in more than 10 weeks. On Tuesday there were 11,697 such transactions, and Wednesday also looked set to be a record day.

View post on X

The uptick in transactions by these large investors could mean they are cashing in their profits. One of these whales sent 1,081 BTC on Wednesday, October 16, to View post on X. Additionally, another whale sent 60 BTC to several exchanges. What makes this notable is that this whale dates back to Bitcoin’s early days.

Moving Bitcoins out of such old wallets always stirs a lot of curiosity in the community, with some even speculating that some of these wallets might belong to Satoshi, the mysterious founder of Bitcoin.

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