Bitcoin OG Whale Sends Another 200 BTC to Kraken
An early Bitcoin (BTC) whale has transferred an additional 200 BTC, worth around $22 million, to the Kraken exchange, continuing a large-scale selloff trend that has shaken investor sentiment.
According to on-chain data, this whale — identified by wallet 1E2JG2cZNkVdpdHQJ54MrpgoD28HHnZRpQ — has already offloaded roughly $1.3 billion worth of Bitcoin throughout October.
$1.3 Billion in BTC Sold This Month
The steady selling from long-term holders suggests profit-taking at cycle highs, adding downward pressure on Bitcoin’s price despite strong institutional inflows and ETF optimism.
Analysts warn that such sustained whale activity can create short-term market volatility, especially when large transfers are made to centralized exchanges like Kraken, typically signaling an intent to sell.
Market Watching for Re-Accumulation Signals
While some investors fear a deeper correction, others view these movements as healthy distribution phases, potentially setting the stage for new accumulation zones if prices stabilize.
As Bitcoin trades near recent highs, traders will be closely monitoring on-chain flows for signs of whether the whale continues liquidating — or begins re-accumulating once more.
