A Bitcoin whale that had been inactive for nearly two years has re-emerged, transferring 300 BTC to crypto brokerage FalconX alongside 1,050 BTC to two newly created wallets. The transactions, totaling approximately $112.3 million, have sparked speculation about the whale’s intentions as Bitcoin flirts with the $84,000 CME gap.
Whale Transfers Over $112 Million in Bitcoin
According to blockchain analytics platform SpotOnChain, an anonymous whale with $85.7 million in Bitcoin holdings has moved 300 BTC—worth around $25.1 million—to FalconX. Additionally, 1,050 BTC, valued at $87.2 million, was sent to two relatively new wallets.
Following these transactions, the whale still retains approximately $12.55 million worth of Bitcoin (150 BTC) in its address.
A Dormant Address Awakens
The last recorded activity from this whale occurred on August 18, 2023, when it received 1,500 BTC from market maker Cumberland at an average price of $26,353 per BTC, worth around $39.5 million at the time. Since then, the address had remained dormant for over 1.5 years before making this significant move.
Bitcoin’s Price Action and the CME Gap
Bitcoin has experienced volatile price swings over the past month, dropping by more than 14%. As of March 17, 2025, BTC is trading at $83,613, marking a slight 0.44% decline in the past 24 hours. Earlier in the day, Bitcoin briefly surged to $84,693 before retreating to a low of $82,061.
One critical technical factor in play is the CME gap near $84,000. A CME gap refers to the difference between Bitcoin’s closing price on the Chicago Mercantile Exchange (CME) on Friday and its opening price when trading resumes. Traders often consider these gaps to be “magnets” for Bitcoin’s price action, as they tend to get filled before the market resumes its trend.
Crypto analyst Mister Crypto highlighted the significance of this level, stating:
“Bitcoin is trading very close to the CME Gap at $84,000. Important level to watch!”
What’s Next for Bitcoin?
The combination of the whale’s sudden activity, Bitcoin’s price filling the CME gap, and increased market volatility suggests that further significant moves could be on the horizon. Traders are closely monitoring whether Bitcoin will break past the $84,000 level or face another round of corrections.
As institutional and whale movements play a crucial role in shaping Bitcoin’s trajectory, the coming days could prove pivotal for BTC’s price action and broader market sentiment.
