Bitcoin Address Moves $377.6 Million in First Major Transfer Since 2020

A Bitcoin (BTC) address transferred 4,582 BTC worth about $377.58 million on Oct. 13, marking its first major movement since March 2020 and raising concerns about possible selling pressure.

The coins were split among five receiving addresses. Four received 1,000 BTC each, while the fifth received about 582 BTC. The receiving wallets had not been identified as exchange deposit addresses, and no sale was confirmed.

The address originally received the Bitcoin on March 3, 2020, when the holdings were worth about $40.8 million and BTC traded near $8,900. A small 0.009 BTC transaction in August 2024 means the latest transfer was its first major movement in more than six years.

Bitcoin was trading near $83,500 after an intraday low near $81,220. The Coinbase Premium Index was negative, indicating weaker relative demand on Coinbase than on Binance, but the reading does not connect that market activity to the wallet.

The transfer alone does not show that the holder intends to sell. The funds may have been moved for custody or wallet-management purposes, leaving the broader market impact uncertain.