Bitcoin Whale Moves $40M in BTC to FalconX After a Year of Inactivity

A Bitcoin whale transferred 625 BTC, worth approximately $39.96 million, to crypto prime broker FalconX in a single transaction executed on July 30, ending more than a year of wallet inactivity. The transfer may indicate preparations for a potential sale, according to blockchain analytics platform Lookonchain.

The wallet, identified by the abbreviated address “bc1qyr”, had remained inactive for over a year before the movement. According to Lookonchain’s on-chain estimate, the holder has incurred an unrealized loss of more than $20 million as Bitcoin fell 45.6% over the past year.

At the time of writing, Bitcoin was trading at $64,242.

Source: Lookonchain