Satoshi’s era whale moves $290 million in bitcoins; A sign of price correction?

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According to reports, Owen Gunden, one of the Satoshi-era investors who was among the first to hold more than 10,000 bitcoins, has transferred 2,587 bitcoins worth $290 million to the Kraken exchange in the past 10 days. This move has created a wave of concern about possible selling pressure and its effect on the price of Bitcoin.

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Bitcoin is currently trying to stabilize above $115,000, but has repeatedly faced resistance in the $114,000-$116,000 range. The current price of this digital currency is around $112,000, and the 200-day moving average at $108,000 is its last important support.

Meanwhile, long-term profitability for long-time Bitcoin holders is waning, and data suggests that some long-time investors may be taking their profits.

Currently, the market is facing instability and uncertainty; Remaining low trading volumes and chain data suggest new investors are reluctant to enter. If this situation continues, there is a possibility that the Bitcoin price will fall further to the $110,000-$108,000 range before any recovery.