Two separate Bitcoin transactions have surfaced in recent reports.
A Satoshi-era Bitcoin whale transferred $203 million worth of the cryptocurrency to OTC trading desks amid market pressures on miners.
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A long-dormant bitcoin wallet transferred approximately $40 million worth of BTC on Sunday to a new address. The move comes as the cryptocurrency trades near $80,700. Blockchain data shows the coins had remained untouched since November 2013.
Bitcoin climbed above $82,000 on May 6, driven by reports of easing tensions between the United States and Iran. Oil prices fell sharply as President Donald Trump paused a military operation in the Strait of Hormuz. The move triggered more than $200 million in short liquidations.
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Cryptocurrencies have shown resilience, trading higher despite a sharp rise in crude oil prices that unsettled global markets. The overall market capitalization climbed more than 2 percent in the past 24 hours to $2.36 trillion, with trading volume surging 52 percent to $99 billion. Bitcoin led the gains, rising 3.2 percent to $69,317.58.
Bitcoin's price has fallen below $68,000 as escalating US-Iran conflicts drive volatility in cryptocurrency markets. The drop follows a US-Israel attack on Iran and recent statements from leaders on both sides, compounded by weak US jobs data. Other major coins like Ethereum and XRP have also declined.
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Ethereum whales have added significant holdings while bitcoin maintains market lead amid rising altcoin activity.
Bitcoin fell below $78,000 over the weekend, erasing about $80 billion in market value amid rising US Treasury yields and weakening ETF demand. The decline triggered nearly $980 million in liquidations across crypto derivatives markets.
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US spot Bitcoin ETFs experienced their largest weekly outflow in five months, shedding $1 billion and ending a six-week streak of inflows. The reversal comes as hotter inflation data prompted investors to reassess risk exposure.