A Bitcoin whale recently made headlines by transferring 2000 BTC to Coinbase, with the stash now worth $178 million. This investor first acquired Bitcoin in 2010 when its value was merely $0.06 per coin.
The market cap of Bitcoin back in 2010 was about $250,000, and daily trades usually didn’t surpass $60,000. As such, the whale’s recent selling move might introduce significant selling pressure on Bitcoin's current market trends.
The impact of this large transfer could potentially lead to fluctuations in Bitcoin's price, raising concerns over its market stability and future movements. This move highlights the impact that large individual investors can have on cryptocurrency markets.
