A dormant Bitcoin whale deposited 850 BTC ($77.9 million) into Paxos on November 20, soon after a 2,300 BTC deposit, drawing scrutiny due to its Craig Wright connection.
This whale activity signals potential market shifts, highlighting the impact on Bitcoin's liquidity and institutional engagements, amid broader debates on asset movements and market stability.
Significant Whale Activity Sparks Market Speculation
A longstanding Bitcoin wallet, dormant for over six years, recently made significant transfers to Paxos, moving first 2,300 BTC and later 850 BTC. These actions indicate a potential change in strategy, possibly involving asset liquidation or institutional trading. Investors are closely monitoring such large outflows for potential market impact due to Paxos's role in custodial transfers and over-the-counter (OTC) transactions. Market watchers have raised concerns about possible sell-offs given the considerable liquidity now held on a major crypto platform.
Increased scrutiny surrounds these moves due to the wallet's past connection to Craig Wright's disputed ownership claims, without validated cryptographic evidence. As a result, traders remain cautious, aware of the implications these large transactions could have on Bitcoin's price dynamics.
Did you know? When Bitcoin whales move substantial amounts from dormant wallets, it has historically correlated with market volatility, underscoring long-term holders' powerful impact on trading sentiment.
Bitcoin Whales and Historical Price Volatility
As of November 20, 2025, Bitcoin (BTC) trades at $86,458.47, featuring a market cap of $1.72 trillion with a 58.18% dominance. The trading volume reached $98.84 billion over the last 24 hours, shifting by -2.40%. Notable changes in price have been observed, with a 25.89% decrease over 90 days, based on figures from CoinMarketCap.
According to Coincu's research team, potential regulatory oversights could emerge as these key BTC transfers impact market liquidity. Institutions might respond by adopting stricter transaction monitoring. The technological shift towards central custody could also stimulate further advancements in blockchain transparency and on-chain analysis tools as the sector adapts to such high-value movements.