Just Now! Dormant for 10.3 Years, Bitcoin Whale Wakes Up as a "Mysterious Address" Likely Belonging to a National Central Bank Bottom-Fishes Again

Bitcoin is fluctuating around $64,000. According to on-chain tracking organization Whale Alert, a Bitcoin whale dormant for 10.3 years has been activated, holding 687 BTC. Furthermore, the mysterious whale Mr. 100 purchased Bitcoin again at a low price of $58,000.

A Bitcoin whale dormant for more than ten years waking up is a relatively rare phenomenon in the cryptocurrency market. After the news was released, it quickly attracted attention and sparked discussion in the community.

Mr. 100, the mysterious whale who buys Bitcoin in batches of at least 100, has bottom-fished Bitcoin worth over $2.42 billion at $58,000 per coin.

Tracking the forces behind Mr. 100, the well-known financial blog ZeroHedge speculated in March that a national central bank is likely behind this address.

This is the first time the wallet has purchased Bitcoin since the Bitcoin Halving event on April 20. Since February 14, this address has been purchasing at least 100 Bitcoin daily, but the sequence stopped after the halving. Currently, it seems that the mysterious whale is active again.

According to Bitinfocharts data, Mr. 100's mysterious whale currently holds over 65,356 BTC at an average purchase price of $36,572 per coin. Based on current prices, the Bitcoin reserve is worth over $3.87 billion.

Legendary trader and BitMEX co-founder Arthur Hayes said Bitcoin bottomed out earlier last week at $58,600 and will start to slowly rise.

In a recent blog post, Arthur attributed the recent plunge in Bitcoin to the U.S. tax season, concerns over Federal Reserve policy decisions, and investors selling off after the halving. Additionally, funds flowing into U.S. Bitcoin spot ETFs have also slowed down significantly.

With U.S. policy continuing to inject tens of billions of dollars in liquidity each month, Arthur believes cryptocurrency prices will slowly rise.

He said, "While I don't think the inflationary nature of recent U.S. monetary policy announcements will be immediately realized by cryptocurrency, I expect prices to bottom out, drop, and then start to slowly rise."

Looking forward, he predicts Bitcoin will continue to rebound above $60,000 and fluctuate between $60,000 and $70,000 before August. So far, the market has proven him right.