$BTC Ancient Bitcoin holders moved millions to exchanges as Middle East tensions drove oil higher, fueling a broader risk-off shift across crypto and traditional markets.
Ancient Bitcoin holders moved tens of millions of dollars to exchanges as Bitcoin fell and energy prices jumped after attacks on Gulf oil and gas infrastructure deepened the conflict involving Iran, Israel and the United States.
Ancient whale “bc1ql” sent 1,000 Bitcoin (BTC), worth around $71 million at current prices, to Binance on Wednesday, according to blockchain data platform Arkham. The whale initially bought 5,000 BTC 13 years ago and still holds about 1,500 BTC worth about $106 million, according to blockchain analytics platform Onchain Lens.
The same day, one of the earliest Bitcoin holders, Owen Gunden, also transferred 650 BTC ($46 million) to crypto exchange Kraken, marking his first large sale in five months, when he sold a total of 11,000 BTC ($1.12 billion),
The transfers added to signs of profit-taking among some long-term holders as traders reacted to a broader risk-off move driven by the Middle East energy shock.
The whale movements follow reports of Israel striking Iran’s giant South Pars gas field , after killing Iran’s intelligence minister, Esmail Khatib, the third senior Iranian figure assassinated over the past few days, South Pars is part of the world’s largest natural gas field, with Qatar and Iran both operating facilities in the area.
$BTC Bitcoin’s latest sell-off occurred shortly after Iran’s strike on Qatar’s energy infrastructure, according to Aurelie Barthere, principal research analyst at crypto intelligence platform Nansen.
“BTC began to sell off yesterday around noon CET, following the escalation of the war between Iran and Israel and the attack on gas infrastructure in Qatar, Bitcoin’s price fell 5% during the past 24 hours and was trading at $70,439