Exclusive: 80K Bitcoin Whale Exposed? MyBitcoin Wallet Trail Leads to Massive Transfer
Whale alert—the crypto seas just got choppier. A dormant Bitcoin address holding 80,000 BTC ($4.8B at current prices) just woke up, and sleuths traced it back to the infamous MyBitcoin wallets. Was this Satoshi’s long-lost cousin? A hedge fund playing hide-and-seek? Or just another crypto O.G. testing the waters before the next bull run?
Follow the money (if you can)
Blockchain forensics firms are piecing together breadcrumbs from the 2011 MyBitcoin hack—yes, when ‘secure’ exchanges still meant ‘Excel spreadsheet passwords.’ The wallets linked to this transfer match the theft’s modus operandi: slow drains, obfuscated paths, and a patience that’d make a Swiss banker blush.
Why now? Three theories:
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The Cash-Out
: Whale’s swapping BTC for a private island before the SEC labels it a ‘security’
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The Power Play
: Accumulator doubling down, betting on $100K BTC by EOY
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The Glitch
: Some intern finally found the paper wallet in a Las Vegas storage unit
One thing’s certain: when 0.4% of Bitcoin’s supply moves, the market holds its breath. Cue the ‘institutional adoption’ tweets from VPs who still think UTXOs are a sushi order.
Bitcoin Whale Mystery Adds Intrigue To Market Volatility
Ki Young Ju has shed light on the potential identity of the mysterious bitcoin whale behind the recent 80,000 BTC transfer. According to Ju, the wallets containing these coins had remained inactive since April 2011, just months before MyBitcoin—one of the earliest Bitcoin wallet services—collapsed following a major hack in July of that year. The sudden reactivation of these coins strongly suggests that the stash may belong to the hacker responsible for the breach or possibly the platform’s enigmatic founder, known as Tom Williams.
Speculation has intensified as Ju noted that Galaxy Digital appears to have purchased the Bitcoin from this entity. However, there is uncertainty about whether thorough forensic checks were performed to confirm the legitimacy and origins of these coins. Such a massive transfer and sale have stirred concerns among traders about potential sell-offs and their impact on market sentiment.
The next few days are expected to be critical for Bitcoin as the market digests this development. While Bitcoin grapples with volatility, ethereum (ETH) has started to outperform BTC, signaling a shift in dynamics. This divergence between major crypto assets may set the tone for the broader market in the coming weeks.
BTC Holds Support After Shakeout
The 4-hour chart for Bitcoin shows that after briefly dipping below the 100 SMA (green) at $117,471, BTC found strong support NEAR $115,724—a key horizontal level that has repeatedly acted as a defense zone. This bounce came as significant volume entered the market, signaling strong demand just below that level.
Now trading around $117,300, BTC has reclaimed the 100 SMA and is attempting to push back above the 50 SMA (blue), currently acting as short-term resistance near $118,118. A confirmed break and hold above this level could open the path for a retest of the range highs at $122,077, which remains the main resistance before any new all-time high attempt.
The consolidation structure that formed between $115,724 and $122,077 resembles a mid-cycle continuation pattern. This recent sweep of the lower range may have flushed out Leveraged longs, allowing for a healthier reset before the next move. However, failure to hold the 100 SMA or another drop below $115,724 would invalidate the bullish setup and likely trigger deeper downside.
Featured image from Dall-E, chart from TradingView
