Arkham Says 80,000-Bitcoin Whale Transfer Linked to Address Upgrade

A single wallet moved about 80,000 bitcoin—worth roughly $8 billion at current prices—over several transactions, according to data reviewed by blockchain-analytics firm Arkham.

Arkham’s analysis indicates the transfers were part of an address-format upgrade, migrating coins from traditional "1-" addresses to the newer "bc1q-" SegWit format that offers lower fees and improved security. The firm said it found no evidence the holder is preparing to liquidate the position, easing concerns of an imminent large-scale sale.

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