Whale Alert: Legendary BTC Holder Deposits 2,401 Bitcoin on Kraken
Owen Gunden, a legendary personality from the early days of Bitcoin, has once again drawn interest from cryptocurrency markets. The billionaire from the Satoshi era placed 2,401 BTC, or around $244.96 million, on Kraken, one of the main US exchanges, in a single transaction. This action suggests a possible transition from internal consolidation to active market engagement, even though a large portion of his previous activity stayed in private wallets. Traders have been cautious and speculative as a result of the action.
Satoshi-Era Billionaire Sparks Market Buzz with a Huge BTC Deposit
Data from Onchain Lens and Arkham indicate that the deposit follows weeks of internal transactions between Gunden’s legacy wallets totaling several thousand BTC. Up until recently, these transactions didn’t appear to be market action preparations but rather treasury reorganizations. The market is on guard because 2,401 BTC are currently active on Kraken, and another 2,499 BTC, or around $258.58 million, are still in his private addresses. A single early adopter might put a lot of sell-side pressure on traders.
Gunden’s BTC Move Could Trigger Major Market Shifts
It is impossible to ignore the impact of a Satoshi-era whale entering the market, even with Bitcoin trading at $103,000 and deep liquidity on key exchanges. They still have the power to affect trading behavior and cause major market movements. Long before there were ETFs, derivatives, or structured cryptocurrency products, these coins were amassed while Bitcoin was trading for triple-digit prices. According to Onchain Lens, even a small amount of activity from early adopters like Gunden can influence everyday trade. This makes market players think about whether institutional flows or wallets that have been inactive for years may make the next big move.
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